To my understanding, there was/is a huge amount of regulatory...

To my understanding, there was/is a huge amount of regulatory red tape in Germany and gaining national or EU funding to support start ups was difficult.

There was an article leaked to the German media a couple years back that we were in advanced discussions with VW to supply them with battery cells, which I imagine would have involved them supporting the German factory. However, it was probably the same story with Germany as India and the middle east, in that we were at the time not producing at a commercial level, so it was to risky for them to partner with a 'start-up'.

It is now why NY has become the focus. Once NY is producing cells at scale we are able to demonstrate we are commercially viable and essentially a dependable partner.

From talks with management, it seems there has been no shortage of interest over the years from auto manufacturers and other groups wanting to build factories with us in various countries. Once NY is up and running, such opportunities will likely be able to progress.

Simply, NY has been the missing piece and will allow other gigafactories to eventuate.