Under appreciated value in legacy bus businessI think VMC’s legacy diesel and CNG powered bus “ongoing biz” is being way under-appreciated and valued relative to it’s contributions of stable revenue as the company builds up it’s ev biz. This last order of 8 diesel busses is probaly worth between 3.5 to 4 mil in revenue and most importantly at a 20% GM that’s 700k to 800k of contribution to cover operating expenses. In 2023 alone they announced a total of 50 non-ev bus sales. At a conservative av. of 350k per bus and 15% Gross Margin that is still 17.5 Mil rev and 2.6 Mil of contribution to op. expenses. To say nothing of the growing parts and service revenue from those busses that have margins more in the 30% range. This ongoing business is a major reason why Vicinity has been able to establish an ev line of busses and trucks without blowing through tens or even hundreds of Millions of dollars like the Proterra’s, lighting emotors and even Lion Electrics have done. To say nothing of fact that those established customer relationships with cities, municipalities, bus transport biz’s make the presenting and selling to these groups ev’s (busses AND trucks) as and when their ready to transition to ev’s much more possible. There is value in this stability that is certainly not being recognized right now, but is nonetheless very valuable for those who do understand it. Hope you all have a great holiday season.