 This is Kirk Yang, an analyst in Taiwan. You've got to listen to this. This is MXUX. This is a quick video. This is a three-minute video of an analyst from a year ago on CNBC talking about Hon Hai, who is Lordstown Motors' joint venture partner now. Now I want everyone that's a hardler of Lordstown Motors and that is, you know, looking at the stock to take a listen to this, because this really explains very concisely what I've been talking about for the last 10 videos. Now a lot of this depends on execution and that's where we are now, but just take a listen. I'm going to pause this if I need to make a comment. I have subtitles down below. Okay, that says EV, battery electric vehicle, is the new catalyst for Hon Hai? Hon Hai share price. The share price got stuck in a $70, $80 range for the most of last year. We're going to this year because it's playing EV, because it's an MIH platform. The EV story alone raised Hon Hai's share price on $70, $80 to $120, $130. Okay, just the EV mentioned, you know, has what not quite doubled, let's say, you know, 40% increase. Now more than that on the Hon Hai stock price. Now listen to how they're going to pivot the company from cell phones to battery electric vehicles. And just when they meant when they developed the strategy, the stock price has gone up. Hon Hai was just let calibrate that. They were stuck in the trading range. They're not going to have organic growth. They need to have a new product line. The new product line is better electric vehicles. The critical player in that product line development is Lordstown Motors. Who is going to show them how to do it? It's Lordstown Motors. Up 150% 5-0. That would say every investor of Hon Hai is looking for the EV story, the execution of EV. So I think that's actually the most important thing for Hon Hai share price. The other thing is that the new chairman, I shouldn't say new, the young Liu took over chairman position last year. The chairman young Liu is very different from the previous chairman Terry Guo, because young Liu wanted to change Hon Hai from the largest country manufacturer in the world to more technology focus, such as 5G, such as semiconductor like you mentioned about the joint venture, such as more high tech type of products like AI, for example. So we're looking for higher margins going forward. You talk about the record sales for Hon Hai, but I think that even better news is that we expect to see higher margins for Hon Hai because product mix that should help. I'd say in Hong Kong, you know, that's Hon Hai. And I just want to mention with the change of CEOs as well at Hon Hai. The prior founder, Terry Gao was really, I would say more pro-China. Of course, he developed all his manufacturing in China. I think the new CEO of Hon Hai is looking outside of China. And again, pivoting the company, although the prior CEO plays a major role in all this, believe me. He's on the board and so forth. But let's just move forward. And they're talking about the product mix here and that product mix is battery electric vehicles. Talk to Hon Hai share price going forward. Sure. Right. So how is it that the market is not capturing that diversification and pick up in margins, Kirk? And you highlighted the stock price movement now for the very short term. But, you know, if you stretch the graph to five years, you look at a Hon Hai precision over a TSMC or a UMC. And this one is really lagging. So there's lack of conviction in their business strategy. Why is that? Yeah, that's a very good point. And that's the problem for Hon Hai. Hon Hai has the largest sales in Taiwan, even more than TSMC. So for Hon Hai to grow, he needs new product, not organic. If you look at Hon Hai's history, every time Hon Hai has a new product line, the stock get re-rated or go up. For example, it did PS2, PS3 gain councils. It did Cisco routers. Then of course, iPhone. But the iPhone was more than 10 years ago. For the last 10 years, there were no new products to boost Hon Hai sales. That's why Hon Hai share price has been pretty flat for three, five years, even last year. But I think this year, investors recognized that EV electric vehicle could be the next iPhone lack of revenue profit booster for Hon Hai. That's why we see the share price deep pretty well the last few months. Obviously, pull back a little bit on profit taking. But I do think that investors are quite confident that EV is the next iPhone, the next router or next networking product for Hon Hai. So you can see how critical the battery electric vehicle push is for Hon Hai, is for their stock. This is an international strategist here and so forth. And he's speaking from Taiwan, I believe. And this is on CNBC Global. But all right, let's separate Lordstown out of Hon Hai. Hon Hai is, you know, this is their, they're all in on this. Okay. And where are they going to do it? They're going to do it in Lordstown. And who are they going to do it with? They're going to do it in Lordstown Motors. And who is going to now their experts at manufacturing and sourcing and supply lines and just-in-time inventory and global distribution and so forth. But when it comes, and they have developed the MIH platform, which is a conceptual platform, it is not in mass production. It's not engineered, I would say, right now for mass production. Lordstown Motors has a vehicle just weeks, I would say, away from mass production, battery electric vehicle. They're going to transfer that knowledge to the MIH platform. And I think hub motors are going to be involved here in some way. But in other words, Lordstown Motors is going to take the MIH platform from concept to manufactured item. Okay. And it's the engineering at Lordstown Motors that's going to do that. And they're also going to develop two more vehicles under the MIH agreement they have now for Hon Hai. And as I say, Lordstown Motors has two more vehicles ready to go on the same platform as the endurance. And those are the high-top band for which they have the soft dies to stamp the body panels. And they have that thing engineered out. They're ready to launch it. It would have been in Alpha or Beta stage right now, probably crash testing had there not been financial setbacks at Lordstown. The second thing, and this is foreshadowed by the military demonstration vehicle at Lordstown week is a three row SUV. Again, on the endurance platform, these are all loaded, ready to go. They're saying why is the stock price in Taiwan level? They want execution. This is how they're going to get it. The proof of concept of everything is going to be the endurance first, these other projects, and the commercialization of the MIH platform, which I believe Lordstown Motors is going to take it from a Beta stage. Let's say it's at Beta now. It's going to take it into pre-production and production. Okay, let's just watch the end of this. Quite optimistic, but the problem actually, I should see that investor should still want to see the actual evidence. We have very good plan, very good outlook, but investor want to see the real product, the real numbers. So I have to deliver on a lot of promises going forward. Okay, this is what the investors want to see. They want to see the real product. What is the real product? What is the first real product that's going to come out of Hanhai's BEV efforts? It's going to be the endurance. Okay, they're going to build the endurance. And I think this should put everything into perspective of how important the endurance is to Hanhai. And it is, of course, important to Lordstown. I think this really gives a lot of perspective on what the heck is going on. It gives you a Google Maps view of pulling out of America and looking at the global view of this project. Again, I think this is really good information to take a look at before the stockholders meeting coming up tomorrow. Let me just let this finish up. Four. Okay, that was actually the end of it. So a lot of promises going forward. They want to see the evidence. And that is the Lordstown Endurance. All right.