Q4 2020 Earnings CommentaryQ4 EC 2020-12-01 - Some key points(Last point is the most interesting one) 1. We are now powering electric trucks in about 40 locations mainly in the USA and two large companies. We are marketing through two channels through our OEM partner's distribution as well as direct sales. How big is our addressable market in lift trucks? We understand that there are over 2 million lift trucks operating in North America, moving goods inside warehouses and factories, providing essential service in transporting groceries, vital to e-commerce, and many other applications. If the addressable market for intensive use lift trucks is for example 25% of the total, that would be about half a million lift trucks; and if we take each battery to have an average price of 200,000, then the addressable market for batteries is in the order of magnitude of 10 billion in North America alone, a large potential market. 2. We are now seeing repeat orders from a number of our Fortune 500 customers. 3. We believe that the large investment for these certifications will attract further growth for our battery systems sales while also providing the market a clear indication for Electrovaya’s technology strengths. 4. We expect to launch our electric bus and electric truck systems in fiscal year 2021. 5. We expect both our OEM sales channel and direct sales channel to expand in fiscal year 2021. Currently, we are in the midst of adding new sales staff to our team in the United States and Canada, as we plan to capitalize on the leadership position we have in the material handling market today. 6. Our customers are in e-commerce, warehousing and distribution. Their demand for high performance lithium-ion batteries is increasing. It is an mission critical obligation for them. 7. We have grown quickly to 40 locations, mostly in the USA and some in Canada. We are seeing repeat sales. We're marketing to two channels, the OEM channel and direct sales channel. Our distribution agreement in mid 2019 was with the Raymond Corporation. Raymond is a 100% subsidiary of Toyota and the electric brand for the lift trucks. It is the largest OEM I believe in this field and has significantly increased the distribution and reach of Electrovaya’s products. 8. Our addressable market in this sector is large, several billions. We are also selling through direct channel to many customers. We are compatible with most trucks. We received that UL2580 listing and believe we are the only lithium-ion high energy density NMC chemistry in the lift truck industry with this listing, an important safety milestone. We are in exponential growth phase as Richard mentioned. 9. We'll be launching, as Raj mentioned, our high voltage battery suitable for electric buses and commercial trucks in this fiscal year 2021 10. $28M revenue guidance for 2021