Good afternoon. My name is Joelle, and I will be your conference operator today. At this time, I would like to welcome everyone to the Proterra Q1 2022 conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again, press star one. Thank you. Mr. Vice President of Investor Relations, Mr. Aaron Chew, you may begin your conference. Thank you, operator, and thank you all for joining us for Proterra's first quarter 2022 conference call. Joining us today from Proterra are our CEO, Gareth Joyce, as well as our CFO, Karina Padilla. After the markets closed, we published our quarterly letter on our website and in an SEC filing, which we encourage everyone to read for details on our financials and insights into our operating results and strategy, industry dynamics, and outlook. During this conference call, we will make statements related to our business and industry that are forward-looking statements under federal securities laws. These statements are not guarantees of future performance. They are subject to a variety of risks and uncertainties. Our actual results could differ materially from expectations reflected in any forward-looking statements. For a discussion of the material risks and other important factors that could affect our actual results, please refer to our SEC filings available on the SEC's website and via the investor relations section of our website. Additionally, non-GAAP financial measures will be discussed on today's conference call. A reconciliation of these measures to their most directly comparable GAAP financial measures can be found in today's quarterly letter. We will kick off the call today by introducing our Chief Executive Officer, Gareth Joyce, for his opening remarks. Gareth? Thank you, Aaron, and to everyone for joining us on the call today. Before we begin our business update, we wanted to acknowledge the anguish and suffering caused by the war in Ukraine on people around the world, including our customers, partners, employees, and their friends and family. As we turn the page onto 2022, the year has begun largely along the lines we laid out when we first offered our guidance for the year about two months ago. As expected, 2022 is turning out to be the year Proterra Powered really comes of age as its own business. While transit growth is constrained by our continued supply chain challenges, even as demand remains robust. Our Q1 results really underscore that dynamic. Let me start with Proterra Powered energy. Q1 really demonstrated how Proterra Powered is coming into its own. Not only is there encouraging momentum in new partnerships, orders, and deliveries, but most importantly, the business is starting to deliver material revenue as well. Proterra Powered delivered battery systems for 287 vehicles in Q1. That is more than 10 times the 26 vehicles we delivered battery systems for a year ago, and more than double the number of vehicles we delivered battery systems for in Q4 2021. In fact, we delivered battery systems to more vehicles in Q1 2022 than we delivered for all of 2021. Deliveries have not only grown in magnitude, but importantly, breadth of application as well. In Q1, Proterra Powered delivered battery systems to 10 different OEMs, four of which are in series production, with the rest being prototypes in preparation for series production later this year or in the near future. Battery production also hit a record in the quarter, including supply for both Powered and Transit. We produced 82 MW hours of batteries in Q1, almost double the 42 MW hours produced in Q1 of 2021. We have now cumulatively produced over 550 MW hours of batteries. In addition, we also partnered in the quarter with The Shyft Group. This new partnership is yet another example of how we are executing on our goal to become a predominant supplier of heavy-duty batteries for commercial and industrial vehicles in North America and Europe. Part of our strategy is to very deliberately balance our portfolio of supply contracts carefully between incumbents who have led the industry with the leading combustion engine products today and are making their move into electrics such as Daimler Truck and Komatsu, but also a new entrant focused purely on zero-emission technologies such as Nikola motors, Lightning eMotors, and Volta Trucks. The Shyft Group represents adoption by another major incumbent in the Class 3-6 commercial vehicle segments. The Shyft Group has designed a new purpose-built EV chassis for Class 3-6 vehicles, and we are proud to have been chosen as a battery supplier for it. This new partnership will not materially impact 2022 results, but helps bolster our growth outlook in 2023 and beyond. Further supporting our growth outlook over the next few years on the heels of the approval of $2.5 billion of new federal funding for zero-emission school buses, state-level programs to utilize that funding are starting to proliferate. Following New York City passing a bill late last year requiring all of its fleet of 9,500 school buses to be electric by 2035, the New York State budget passed in April established a new state law, the first of its kind across the country, to convert the state's 50,000 school buses to electric also by 2035. Separately last month, Boston Public Schools announced a new plan to convert all 739 of its school buses to electric by the year 2030, starting with this coming school year. School buses are now on the fast track in following transit buses on the route towards electrification, and we expect to be a prime participant in this through our relationship with Daimler and the supply of batteries for its C2 Jouley electric school bus. Meanwhile, Proterra Energy put up its best results of the last three quarters. Although deliveries were down year-over-year, they grew 71% as compared to Q4 2021 to 3.3 MW, as we were able to complete deliveries on six projects that had been pushed out from the end of last year. Proterra Energy also received multiple new orders spanning our megawatt scale and vehicle-to-grid charging solutions in Q1, including an order from Pace, the largest transit provider in suburban Chicago, with two megawatt plus chargers, along with its new order for 20 ZX5 Max buses. We've also been making continued progress on some of our largest projects in backlog. The two microgrid projects, one for the Los Angeles Department of Transportation and one for the Santa Clara Valley Transportation Authority, as well as our multi-megawatt project at Miami-Dade Transit. Though this revenue won't be recognized until subsequent quarters. All in, even with the declines in charging installations in the quarter, growth in battery system deliveries drove Proterra Powered and Energy revenue up 97% year-over-year to $23 million. As you can see, well within sight of our guidance for more than $100 million in revenue this year. At Proterra Transit, both deliveries and revenue were down in the quarter. This was directly as a result of the parts shortages and supply chain challenges we discussed at our last quarterly conference call, which have extended into 2022, significantly constraining production early in Q1. At the same time, it does not reflect a significant improvement in production in March versus January, as well as the benefit of a few targeted initiatives we have recently launched that should stabilize some of the supply chain volatility we've been experiencing and lay the groundwork for normalization and improvement in production through the balance of the year. On one hand, the supply chain environment hasn't improved at all since we last provided an update in early March and has in fact become even more challenging in some areas. As most of you already know, the supply chain has been stressed for some time now, going back to 2020, stemming from COVID-19 related labor availability, extended backups at ports, and certain raw material shortages. Needless to say, supply chain hasn't been aided by a new war in Europe, which has further disrupted the availability of parts from Europe, contributed to higher shipping costs, and reduced global shipping capacity. Now, compounding matters further is the latest COVID-19 outbreaks in China, and more specifically, the complete shutdown of Shanghai for five weeks running, which has led to widespread manufacturing stoppages and further shortages and shipping complications. Even if we are not directly sourcing parts from China or Europe, these disruptions can still impact our tier two and tier three suppliers. Taking all of this into account, relying on a supplier remains a significant constraint for us, as it does for the entire industry. Motors for some of our drivetrains, as well as power connectors and some other components have emerged as new bottlenecks that impacted Q1 production. The latest disruptions in China and Europe threaten additional shortages in everything from aluminum extrusions to contactors and fuses to sensors, and for that matter, sensor screws. Also, high pressure die casts and even some adhesives. On the other hand, our ability to manage through these uncertain and choppy supply chain conditions improved in some important ways as not being a passing phenomenon, but has become something we've all had to adjust our lives around. It is increasingly looking like a fragile supply chain environment is an obstacle manufacturers are going to have to deal with for quite some time. Just as we adapted to manufacturing in the new COVID-19 environment, we're adapting to working within this unpredictable supply chain environment as well. We recently launched a number of new supply chain initiatives that have established safeguards that should improve our readiness and ability to pivot around the biggest bottlenecks and shortages we are facing. First and foremost, we are in the process of selecting vendors to provide dual sources of key componentry. Second, we've established a new program through which we are now directly sourcing ourselves many of the raw materials that are causing the biggest shortages to our own tier one suppliers, even beyond wiring harness connectors. We've established new relationships with our own brokers and have been able to acquire incremental key components and raw materials needed by our suppliers that could otherwise not have been procured for our use. Importantly, we're starting to use these new sources to build a safety stock of these critical raw materials most vulnerable to shortages. Finally, we have also been working directly on site at some of our key suppliers to help them better handle what I call surge capacity. One of the critical implications of this fragile supply chain environment is how sporadic parts shipments have become and what that means for actual output. By working on site at our key suppliers to address their own parts shortages and production constraints and help them schedule their production capacity for us to focus on the parts most critical to our build schedule. With the help of these measures, production improved consistently throughout the quarter in a way that didn't show up in the full quarter's numbers. Production output significantly improved in March from January levels and returned to a pace that would support a 50+ buses per quarter production rate. We reduced the number of buses suspended somewhere along the assembly line waiting for parts like a motor or wiring harness by more than 50% as well. Don't get me wrong, I am by no means saying the coast is clear. Shortages remain a challenge and supply chain uncertainty is a continued complication. It's the problem next week you don't know about that is the bigger issue than the problem you knew about last week, and we're already working on fixing. We will continue to lay more groundwork to cope with continued supply chain disruptions to first normalize and then improve production through the balance of the year. Meanwhile, demand is strong. On top of the order from Chicago's Pace for 20 buses we announced last month, we also received a follow-on order from CapMetro, which exercised its first option and fourth order overall for an additional 14 ZX5 Max electric transit buses following its order for 26 we announced last year. In addition, the increase in federal funding stemming from the Infrastructure Investment and Jobs Act is progressing. In March, the FTA announced that federal grant programs to help transit agencies purchase zero-emissions buses and chargers for the fiscal year 2022 that total approximately $1.3 billion. We anticipate inbound orders from these funds to begin starting Q4 2022. All in, 2022 has played out much as we expected so far through Q1, and we reiterate our guidance for revenue growth to accelerate between 24% and 34% year-over-year to a range of $300 million-$325 million. As our Q1 results demonstrate, Proterra Powered Energy is on its way to more than $100 million in revenue this year, with $23 million already recorded in the first quarter and more Proterra Powered vehicle programs entering series production later this year. At Proterra Energy, one of our major suppliers has overcome its initial production challenges, but because shipping delays remain a problem, Proterra Energy growth will not likely resume until the second half of the year. Proterra Transit may still be facing supply chain constraints, but improved supply chain management enabled significant improvement in production rates by the end of Q1 that set the stage for improvement in output through the rest of the year. The raw material and supply chain cost pressures have also consequently continued to affect gross margins as they did in Q4 2021. I will now hand over to our Chief Financial Officer, Karina Padilla, who will discuss these dynamics and other financial metrics in greater detail. Karina? Thanks, Gareth. I'll focus my comments on three critical elements of our financials, revenue, gross margin, and cash. I'll start with revenue. Q1 revenue grew 8.5% to $59 million. The top-line growth was driven by our Powered and Energy business and was partially offset by declines in transit revenue. I'll spend the next few minutes going into a bit more detail of our revenue performance by business unit. Starting with Powered and Energy, Proterra Powered and Energy revenue grew 97% year-over-year to a new high of $23 million, representing an incremental $11 million. On a trailing twelve-month basis, Powered and Energy revenue has now surpassed the $50 million mark for the first time at $59 million. The growth was driven by a more than tenfold increase in Proterra Powered deliveries to 287 vehicle sets. Proterra Powered delivery growth rates exceeded the pace of revenue growth because of a greater delivery mix of lower weight vehicles with smaller battery sizes, including Lightning eMotors Class 3 vans. In addition, Proterra Energy installations declined year-over-year, primarily related to continued delays in hardware shipments from a key supplier, as well as delays in construction project timelines. However, deliveries improved sequentially and were the highest since the second quarter of last year. Switching to Proterra Transit. Revenue in the quarter was $35 million, a decline of approximately $7 million versus the prior year, as we delivered 40 electric buses, eight fewer than the 48 we delivered in Q1 of 2021. The lower bus deliveries was largely due to the continued parts shortages that we discussed in our last quarterly call, and which intensified in early Q1 before the supply chain initiatives that Gareth discussed kicked into gear. In addition, the average bus prices declined mostly due to lower mix of customization on the buses delivered in the quarter. Electric bus deliveries in Q1 included new and repeat customers such as the Port Authority of New York and New Jersey, whose Proterra fleet now stands at 46 buses since our first bus was delivered in 2018. Charleston's CARTA, which is adding 20 35-foot ZX5 buses in a follow-on order on top of its existing fleet of six 40-foot Proterra buses. A name many might not be familiar with, Biddeford Saco Old Orchard Beach Transit, which along with the Portland metro area, are bringing the first electric buses ever to the state of Maine. We are very proud to be at the forefront of enabling zero emissions through electrification in states that are at the beginning of their zero emission mass transit journey. Moving on to the growth margin front. We reported a negative growth margin of $3 million in Q1 of 2022. This compares to a gross profit of almost $900,000 in the prior year, and a gross loss of $3 million in Q4 of 2021. Q1 margins were impacted by many of the same items that affected our performance in the previous quarter. Although we were not pleased with the results, they did perform relatively in line with our expectations based on the current environment we're operating in. Summarizing the primary factors of our margin performance in the quarter was the combination of lower transit deliveries, product mix, manufacturing inefficiencies and cost inflation. Now let me elaborate a bit on these drivers. First, on product mix. The revenue per bus mix in the quarter was 3% lower, both in prior year and sequential. The mix in revenue is driven by varying customer bus configurations delivered in a quarter. Second, on cost inflation and manufacturing inefficiencies. We are encountering material and freight cost inflation across both business units. On the production side, in our transit business unit, it took 9% more incremental labor hours to complete a bus ready for delivery in Q1 2022 versus prior year, and 25% longer versus Q4 2021. The idle time a bus spends waiting on one component to arrive to be able to move on to the next build station, leads to significant inefficiencies across the factory floor. In many cases, we are able to advance a bus through various stations, but at some point, the bus requires some level of rework, and incremental installation time is required if a component was not installed in the most efficient sequence along the build phase. The combination of lower revenue per bus and the incremental labor hours required for bus completion, had a negative impact on transit margins in the quarter. On the power and energy side of our business, the margin challenges manifested themselves differently from transit. First, on batteries. The strong unit growth output that you saw on our top line required additional overtime hours and freight expense in order to get the product out to our customers on time for their production schedule. Not only did we incur incremental freight expense from shipping inflation and expedites, but we also utilized 356% more overtime hours than prior year, and 83% more overtime hours than Q4 2021. Specific to freight expense, for perspective, 29% of our powered revenue in Q1 2022 was from international sales. However, on an absolute basis, the international sales in Q1 2022 was 135% larger than the total powered revenue a year ago. Total freight expense for Powered alone increased by $1 million versus prior year due to both increase in volume and increases in freight rates. Our battery business is not immune to supply constraints. However, parts shortages on the battery side have not been as prevalent as we've seen in Transit thus far. Lastly, on the Energy side, the lower revenue from declines in charging installations in the quarter did not help offset some of the challenges seen across our other product lines. However, given the challenges I just noted, we are taking actions to improve our margins. It will take some time to play out, especially as supply chain itself has not stabilized. We are making progress on our gross margin initiatives, and I would like to give you a quick update. First, are the price increases we discussed in our last quarterly call. We have implemented new contract pricing across both business units for all future sales orders. Proterra Powered has also made good progress on actualizing a market-based, data-driven approach to address inflation of raw materials and other cost increases in good faith repricing proposals and negotiations with our customers. We have notified all of our customers who are in the series production life cycle and the majority of customers who are on very low volume development trials of the repricing approach. Given timing of negotiations and contractual obligations, we don't anticipate seeing any of our new pricing to kick in until the latter part of this year. On the transit business, we have successfully negotiated cost recovery price increases with just under 20% of the customers in our remaining 2022 build plan, and we're in ongoing negotiations with another 65% of our customers slated for our 2022 build plan. With that said, given our 12- 18 month backlog, despite the new pricing going into effect the latter part of the year, we don't expect to see a material benefit until 2023 and beyond. It's important to note that although the groundwork has been set, the hard work continues, and we will continue to have discussions with all of our customers, suppliers and partners to improve our margin performance over time. We also expect margin improvement from manufacturing efficiency. We continue to expect improvement in production efficiencies when supply chain and logistics normalize. However, this benefit is unlikely to come in the first half of the year. We continue to work on evaluating alternate suppliers and are currently undergoing new supplier qualifications. The increase in our supplier base will diversify some of the risk and result in improved supply chain utilization. Third, as I mentioned in our last call, we will execute on capacity expansion projects as supply chain and logistics normalize. We expect the increased capacity through the addition of shifts and the expansion of our new battery facility in Greer, South Carolina, will enable revenue growth, scale, and better asset utilization. Gareth will discuss our progress of our new factory in his closing commentary in a few minutes. Moving on to cash. Our balance sheet remains strong. With $599 million in cash equivalents, and short-term investments as of March 31st, 2022. Our cash flow burn in the quarter was $61 million and was in line with our expectations for the first quarter. In addition to our operational cash usage, we had approximately $10 million in capital expenditures, largely related to the build-out of our new battery factory in Greer, South Carolina. We increased inventory by $14 million, in part from our continued effort to secure early delivery of key components, including battery cells. Lastly, we ended the quarter with higher receivables due to timing, of which we expect to normalize by the end of the quarter. Our adjusted EBITDA loss of $35 million in Q1 was driven by gross loss of $3 million and operating expenses of approximately $37 million, excluding stock compensation, offset by depreciation and amortization of $3.4 million. All in, with close to $600 million in cash, we have the balance sheet strength that sets us apart from others. Liquidity is a priority, and we will be prudent with our cash usage to give us the durability to endure these near-term supply chain disruptions while still being able to invest comfortably in battery capacity expansion, R&D, and our operations to support our growth strategy for many years from now. With that, I'll pass it back to Gareth for his closing commentary. Gareth? Thanks, Karina. In summary, Q1 was a microcosm of the key dynamics we see playing out in 2022. Powered and Energy more than doubling revenue to above $100 million for the full year, and transit growth curtailed by continued parts shortages and other supply chain-related delays. Demand continues to gather strong momentum, but our ability to capture all of it in 2022 is being limited by production capacity and supply chain constraints. With Q1 somewhat in line with our expectations, we continue to expect revenue growth to accelerate to at least 24%-34% this year to $300 million-$325 million. We look forward to our next leg of growth beyond that, which remains largely a function of, one, new battery capacity coming online at Greer, South Carolina, and two, transit adding a second production shift once supply chain fluidity and predictability improves. I will conclude our prepared remarks with some updates on those fronts. First, on our battery capacity expansion. Construction of our third battery factory in Greer, South Carolina, is well underway and is on budget and largely on time. Equipment installation has proceeded according to plan to date. Earlier in April, we completed construction of the battery production enclosure for the first two production lines. Just last week, we installed the first automation equipment and powered it on for the first time. It'll undergo a thorough testing regime throughout the month of May, and we plan to begin installation of the battery module equipment as well as the non-battery production equipment for ancillary products, including drivetrains and high voltage junction boxes in the next few weeks. In addition, we're making progress on staffing the facility well. The site's key leadership positions have already been hired and are on board. We're now in the process of filling out our manufacturing, engineering, maintenance, and quality teams. All in, we remain on target for start of production in Q4 this year. Finally, on transit, there are essentially three primary hurdles we must overcome for our next leg of growth. First and foremost are the supply chain dislocations that have been complicating production these last few quarters. Second is scaling production to new highs, moving from one shift to two shifts, and then a third before expanding additional bus manufacturing capacity. Finally, of course, is improving gross margin. Supply chain conditions remain largely out of our hands, but we are adapting our production processes to better manage them. Scaling production and margin improvement is the next order of business, and these are largely within our control. It's going to take the right leadership to make that happen. Marking the next era for Proterra Transit leadership, I am excited to have announced the appointment of Julian Soell as the new president of Proterra Transit. We interviewed some amazing talent, but no one else brought the combination of intellect, strategic thinking, and operational experience that I'm confident will bring a fresh perspective and the operational excellence to help Transit not only scale production but expand margin as well. In conclusion, Q1 is performing in line with our expectations when we provided our outlook in early March, and we reaffirm our guidance for 2022. Demand for electric trucks and buses continues to gather momentum, and we are positioned for significant growth as Greer comes online. More partners launch series production of their Proterra-powered vehicles, and Proterra Transit adds a second shift and continues to scale bus production. We believe that Powered has reached an inflection point and has entered the acceleration growth phase of the S-curve. To put this in perspective, we produced approximately 25 MW-30 MW hours of batteries per quarter throughout 2020. In 2021, that grew to the 40s. In the first quarter, our battery production rate almost doubled to more than 80 MW hours. Supply chain and production capacity constraints are limiting growth in 2022. At the end of the day, third-party forecasts for electric penetration of trucks and buses from Morgan Stanley suggest a market for commercial vehicle batteries in North America and Europe of close to 90,000 MW hours in 2030. We believe that Proterra is ideally positioned to capture a material share of this market at a meaningful margin. Over the past quarter, we've continued to add incredibly talented people to our amazing team at Proterra, and I want to thank them for their tireless efforts in helping us continue the journey from successful startup to maturing scale-up. With that, we will open it up to Q&A. Operator? At this time, I would like to remind everyone, in order to ask a question, press star one on your telephone keypad. Please limit yourself to one question and one follow-up. We'll pause for just a moment to compile the Q&A roster. Your first question comes from the line of Sherif El-Sabbahy from Bank of America. Your line is now open. Hi, good afternoon. I just wanted to ask, you mentioned a pickup in improvement in production from January to March. Can you quantify that pickup and what you're seeing into the early months of Q2? Hi, Sherif. Thank you. I don't have a number to quantify for you, but we certainly did see a significant improvement in material flow to our production line, as February and March developed. Some of the strategies we put in place to manage supply, in particular of our raw material flow from our wiring harness service provider, showed great improvements. As I mentioned, you know, we've been doing a number of things. One, you know, we sourced a lot of the components ourselves to be able to support their production capacity if they run short of those particular critical components. Two, we've had people on the ground with our, you know, key strategic suppliers in areas where we have short delivery of product to help them manage their own production output so that, you know, if they're faced with a decision around which is the most important component to get out first to keep our line moving, we're managing that tactically on a day-to-day basis. These sort of actions are starting to deliver results for us. Yeah, the result of that was in March, you know, we were able to get our production numbers to levels that, you know, support the 50 units a quarter again, at least stabilizing, you know, our foundation. Understood. Then looking at last quarter's margin guidance of for 2022 of approximately flat, what assumptions are embedded within that, regarding freight and some of these cost headwinds? Do you have to see a substantial drop-off in those in the second half? Yeah, I think we said it on our last call and reiterated again today. You know, the supply chain environment is fragile on the one hand. You know, there's a lot of disrupted flow of materials that's causing escalated freight costs. You know, in many cases, we're having to expedite product both to our own production lines and then on outbound product to our customers as we try and remain customer-focused and have them be able to run their own production environments on the powered side. You've got that sort of fragmentation in the market. Of course, you know, as we mentioned last call, you know, the real effects of inflation have started to be felt. You know, that we don't believe soon. You know, we've been preparing the business to be able to respond to that. As Karina noted, you know, been working on the price side of the business to make sure that we have the potential to recover as much of that as possible in the market. But there is a lag effect between you know, the input cost pressure we've seen and when that recovery comes on the price side, which will be you know, probably Q4 and into 2023, as we mentioned. You know, we see that pressure continuing through this year, which is obviously going to see that pattern of compressed gross margin sustaining for you know, the balance of this year in all likelihood. Thank you. I'll pass it along. Your next question comes from the line of Courtney Yakavonis from Morgan Stanley. Your line is open. Great. Good afternoon, guys. Maybe just as a follow-up to the conversation on the pricing side, can you give us any sense of how much pricing you're thinking about taking? You know, just remind us, you know, how much of the backlog is eligible for some of these inflation pass-throughs, and how the conversations are going with customers at this point, and if there's any sense that customers are at all price sensitive when you're having these conversations. Yeah, thanks, Courtney. We have, you know, a fairly significant customer base now, both in powered and in transit. We're working through them on an individual basis. You know, each of them has certain uniqueness around the contract. It is an individual discussion in each case. On the transit side, we've got through roughly 20% of our customer base successfully, and then there's another roughly 65% that we're still working through. You know, the difference is some of the contracts where product is already produced, and, you know, somewhere between production and delivery, and therefore, you know, too late to achieve any sort of price recovery on. On the power side of the business, also, we're roughly a quarter of the way through our customer base in terms of finalizing price negotiations. It's a process that takes a little bit of time, as I'm sure you can appreciate. You know, every customer is sensitive to price increases. Is it a topic that is unfamiliar to customers right now? No. I think the awareness in our customer base and in the market in general around supply side price pressure is fairly high. Therefore we, you know, continue to work through it with the appropriate sensitivity. Obviously, our expectation is that we have agreements kind of finalized for the vast majority of the customer base, you know, well within the next couple of quarters. It's a process that we work through. So far we're, you know, positively encouraged by the progress that we've made, even though, you know, no customer likes to hear that there's gonna be price pressure. I guess one thing I'd like to add. It's just more for clarity than anything else because I'm not sure if it was clear. That on the transit side of the 20%, kind of roughly 20% customers that we've already agreed to price increases, that's based on the existing 2022 build plan. We should expect to see some benefit of that. Again, others, the other 65% are either, you know, in current negotiations, so, you know, we still have to conclude those. We started based on kind of order priority based on our build plan. We do expect to see some benefit from that, obviously, in the latter part of the year. The remaining, call it 15% is based on just where the phase of the build plan that was or contractual obligations that just didn't allow us to facilitate any type of pass-through. I just wanted to clarify that. Okay, thank you. If I can add one last comment, Courtney, on you know, as it relates to sort of overall gross margin components. You know, we're producing batteries out of our LA facility and our Burlingame facility at the moment. You know, Burlingame is really intended for early stage production as we continue to advance our business and work on development of our battery program. We're really excited for the Greer facility to come online, towards the end of the year because that is a purpose-built facility for large scale production. You know, we obviously are gonna continue to work on the cost efficiency side of the equation as well, and we do see opportunity there. You know, it's working on both sides of the business to you know, keep going into gross margins. Okay, great. Thanks. You know, you gave some comments just about, you know, the successive increase in bus production month-over-month. Can you just give us any insight into your production on the powered side? Also, just as we think about the year, how to think about the cadence as you continue to scale, you know, acknowledging that the new facility is coming online later in the year. Yeah. As I said, we've seen a step up in production output for the Powered business in Q1, as is evidenced by the results. You know, with the delivery of 280 sets in just this quarter, that's more than the sum of all vehicle sets delivered in the entire of 2021. You know, significant increase in production output and you know, we're running our production footprint you know, close to maximum scale right now between LA and Burlingame, and so we're very eager to get our Greer facility live as well, as we look to capitalize on the opportunity that you know, the demand side of the business is seeing. We mentioned in our last call, and I'd reiterate it today, you know, we continue to see very favorable demand in the market. You know, we will maximize our production output through the two facilities we have operating at the moment until the third one comes on stream at the end of the year. Okay, thank you. One other comment maybe just to put in perspective the production capability. We, you know, talked about 82 MW hours of battery production in Q1 being a significant increase on what we produced in prior years. You know, the facility in Greer is gonna be a multi-gigwatt hours facility, so it gives you a sense of the kind of scale capability that we'll have once that facility goes live. Again, if you would like to ask a question, press star, then the number one on your telephone keypad. Your next question comes from the line of Brian Johnson from Barclays. Your line is open. Hi, team. This is Jason Stuhldreher there on for Brian. I was hoping to maybe just ask a question on the quoting environment. You know, recognize you guys don't talk about backlog on a quarterly basis, but just kind of holistically as we think about the pipeline right now, maybe both in transit and with Powered on initial awards book on the van side, but then I guess more specifically on the truck side, both medium duty and heavy duty. Are you guys seeing any kind of hold up or slowdown in the quoting process there? I mean, it's clearly not gonna be as fast a moving market as bus and van, but, you know, just heard from others that quoting environment has kind of slowed a little bit and wondering if you were seeing the same thing? Jason, I'm terribly sorry, but your microphone cut out in the first sentence or so. The key part of the question I missed. I apologize. I got the second part. Oh. Could you just reframe it? I apologize. Briefly stated, the quoting environment specifically for medium and heavy duty trucks, are you seeing that clearly that's a slower moving market, but has that market, the quoting pipeline kind of slowed more than expected over the last, you know, call it few quarters? It just seems like others have kind of hinted at that. Yeah, I'm not gonna get into backlog today because we do talk about our order backlog once a year, and we went through that last quarter. Yeah, I will just talk about the general sort of market dynamic. I mean, in our prepared remarks, we referred to, you know, additional agreements that have been announced. There's, you know, continued demand and interest. Specifically on the sort of medium duty heavy duty truck side, certainly we have not seen any tangible change in consumer interest over the past quarter. I would, you know, say that one has to bear in mind in the overall market dynamic right now, diesel prices have come under significant pressure over the past few months. Yeah, that's challenging the total cost of ownership economics of traditional combustion engine operations for all commercial vehicles. Certainly on the heavier duty side, probably more significantly, given their exposure to diesel prices and you know, fuel consumption. From my perspective, no, we haven't seen any material change in consumer interest. Understood. You know, maybe just another question on what you are seeing in the order book or the pipeline. You know, with battery raw materials, you know, obviously high right now and cell availability limited. You know, you guys have, I think, cell availability locked up through 2028. Are you seeing any incremental interest from customers specifically because you have good cell availability, you know, through the midterm, whereas it frankly might just be difficult to get battery raw materials or even packs from other suppliers right now? Yeah. A very good point. You noted sort of raw material price movement. Yes, that's a real issue. You know, like anybody who's in battery technology, we have some exposure to it. But certainly our strategic execution of our entry into an agreement with LG Energy Solution, you know, for a long-term supply agreement was, you know, something we anticipated, supply being a core strategic advantage. It is definitely showing benefits today. You know, we like the position we have with LG. They're, you know, one of the largest players in the market and produce a very high-quality product. You know, we find that to be one of our strengths at the moment to have access to cell supply and as one of the key inputs to our production process, that's something that does allow us to have confidence that we can continue to meet demand. Okay. Understood. Thank you. We are out of time. I will pass it back to Mr. Joyce for closing remarks. Well, I just wanted to express our sincere thanks to all of you for joining us today. It's a great opportunity for us to update everybody on the progress we're making here at Proterra. Equally, I'll just extend a thanks to our team. You know, we have an incredible team of people who are very devoted to the mission, and I just wanted to say my sincere thanks to them for their hard work and look forward to talking to you all on the next call. This concludes today's conference call. You may disconnect.