Amit Dayal : Can you share a few key, near term milestones in catalysts?
Andrew Fox: Amid, here are some of the catalysts that we’re thinking about. Many governments around the world are already offering incentives and subsidies to encourage the adoption of EVs. Additionally, new regulations aimed at reducing admissions and promoting sustainable transportation are expected to increase the demands for EV. As EV technology continues to advance, we can expect to see improvements in battery life, charging times, and overall performance. These advancements will make EVs more appealing to consumers and help to overcome some of the current limitations of the technology. With major automakers investing heavily in EV production, we can expect to see a significant increase in the number of EVs available to consumers in the near future.
This increased production capacity will help lower cost and make EVs more accessible to a wide range of consumers. Lastly, as more consumers become aware of the environmental benefits of EVs, we can expect to see a growing demand for sustainable transportation options. This will drive growth in the EV industry encourage future innovation and investment.
Operator: The next set of questions are from Brian Dobson with Chardan Capital Markets.
Brian Dobson : What is your core capital allocation strategy for the coming two years, and what are the most attractive places to devote your resources?
Leah Schweller : Thanks for the question, Brian. In 2022, our capital spend has been focused within our EV charging business, along with various technology capabilities for internal use, making work more efficient, and our ANS systems for maintenance and monitoring. We are in the process of developing maintenance and monitoring within our CI business as well. We also invested in our corporate segment, including enhancing systems and adding the right people to ensure we’re ready to support future growth. We will continue to reinvest EBITDA we earn to ensure all of our businesses have the resources they need to continue to grow.
Brian Dobson : How do you view the PTGI subsidiary, and how does it fit into your long-term strategy?
Andrew Fox : PTGI was an early acquisition that provided us leadership, talent, back office, working capital, and profit to reinvest in the business. It’s a stable subsidiary, but as we shared our focus is on the infrastructure segment, which is where our capital spend is.
Brian Dobson : What is your view on the pace of adoption among municipalities?
Andrew Fox : The municipalities taking time to roll out their strategies are to our advantage. As we are focused on dealerships, as we secure our market share, our expertise, and grow our company, we are well positioned when the public sector gets their act together will be there.
Brian Dobson : What regions are most attractive in terms of growth and expansion?
Andrew Fox : We are focused, our strategy within the United States, the broader North American market for EVs is expected to grow significantly in the coming years, driven in part by increased consumer demand and favorable government policies and at reducing admissions. Additionally, Europe is home to some of the most stringent emission regulations in the world, making it a highly attractive market for EVs. So additionally, many European countries offer incentives and subsidies to encourage the adoption of EVs. And lastly, India is an emerging key market for EVs with a government setting ambitious targets for the adoption of electric vehicles and incentives to encourage their production and adoption.
Operator: The next question comes from Chris Pierce with Needham.
Chris Pierce: Can you give us a better sense of the competitive landscape for EV projects? And who is Charge competing against? And what can charge lean on to win versus these competitors?