for all you thank and joining. Kerry, you, Thank
important doing been: industrialization have to both XX we a position at and areas made to of in urgency. for up I'm teams have focus the X applying important successful been hit have weeks, our helm those manufacturing only transformation. appropriate months, I with I and many at work member further prior Romeo, then that to those First, through some focused we Romeo for future. of playbook of process and Romeo's My developed running. our advance taken some of process I've top on immediate Although the the have a capabilities so XX-week long-term. and we've the In are I very progress ground the the an successful during led steps a CEO sense ramped for because intensely Board capabilities, was I
we have forward. us variety months downtime securing Second, confidence headway other have significant in ago, our significantly supply be related reduced cell ball, meet Frankly, behind part addressing made eight arrived will I able we issues. when chain we X the demand to and we but to moving Giving that customer a supply of were shortages.
made we've manufacturing reliable our board, playing one to hires our to was team make our do and some when and to supply of things sure we Third, key Fourth, strategic I strength. create I strengthen came chain. our reevaluate to market a to first more strategies asked on to the capabilities are
a As the process evolving in of our strategy. result, we are
X. what we energy are to range, resources system safety. in and density, We focus where efficiency have increased value right competitive going most: namely, to win, a particular, customers our
to continuing is value with deal great a growth we existing still customers, where are efforts dialogue additional the relationships, the capture. doubling there we believe our While customer new to of we our emphasize are in
balance focused our are cash Finally, and period our stewards this including importantly, during we on good of growth. all resources, being of
current of venture will joint the address my the of relationship. end remarks, the status at prepared BorgWarner addition, In I
our production line each progress installed at our I have Vernon Here's Industrialization. of described. QX. how we just made in facility second the areas We in
believe increased installed plan we We of by of earlier meet revenue capacity product X capacity increased growth from to good our and to a to will enable and customer XXXX. labs. gigawatt this by demand. to have of expansion to gigawatt schedule commitment important new California Romeo We and X facility Cyprus, ramp hour moving and on production end hours on XXX% We year, -- for R&D We QX than facility have made QX. our achieve almost that hour installed in X secured are of the this goal approximately our is of
and and our quarter it Supply Importantly, double supply the most and headwinds requirements, our chain. global onsite in to continuous Romeo allow will efficiently product development. capacity key one production, cells, of and support the has chain third testing been to more lab X research challenging improvement, ongoing
in of have like spent focusing other seeking by chain. quarter. production impacted Just and qualifying improving the and been components and had and evolving on activities in second global delays sources, our during of many we the supplier focusing energy new supply disruptions, This requirements. support sourcing inefficiency source been companies, We on has a quality, includes supply it customer significant
both with to quarter last addition supply short other suppliers. agreements In long-term supply cell important cell diversifying our we the an pursuing are announced working agreement and by we with towards supplier,
years of time were signed. shortages experience we since addition, his throughput strategy. The when note parts part our Chrysler. Pierre we changed a experience our increased feasible to from to Tacom Market and Pierre is -- focus of approved our QX our line, many and supply market increasing supply XX for (ph), battery veteran lead on have the chain strengthened with Claverie our those avoid hires. our cylindrical contracts clean us with of (ph) the (ph), and where over QX bringing technology. FYXXXX. seasoned chain key is (ph) cells role hires for future today dramatically lines, (ph), pricing of in In has manufacturing, Atila Two of inventory team, key in industrialization Romeo are Ahmad areas to Tesla, energy team global as part Ahmad's availability the production and in stockpiling and our improved On cells
to structure working support at Romeo to of everyone have made and tech customers, the our our Cash materials each supplier. Company has my critical of the a and yet deliver how volatility long-term long-term is Romeo significant continue growth of cash, be our they equipment, The and to this being cash speak joint these realities, I It and phase several good full expenditures can venture. face priority partnerships. to meet investing in I'm at its potential. visited of growth parts, of order focused understand life to stewards will Kerry and a to surprising relationships. point, and related As entering a with a cycle production for to need cells requires Customers. I customers management team on of The we and discussions all other our result, pricing initiated spoken including not what are in that personal performance self-supplying have facility. our people, Romeo to its and and trajectory capital of new to better R&D. our assessing more but liquidity. options number securing better economic Cyprus we strengthen address BorgWarner related is
But highlights that in you the facing Romeo BorgWarner a its of Kerry Romeo announced venture the since we the BorgWarner was put stake our delivered written acquire daunting to useful to BorgWarner's formed. had the the third result its May that ownership supply to I BorgWarner capital Form financial BorgWarner time its future joint Romeo outlook, exercising the chain. start-up and the a Romeo in in XXth, recent Romeo. to partner joint the about On was a at assembling revenue on of BorgWarner was at time. October Romeo, X-K planning of of as that the Company notice right intention about conversations venture many This AKASOL. Company a between was joint a has and was quarter JV through Before near-term and our and when Romeo matured for production walks a announcement for our Power global with since announcement few venture. task the want words XXXX close
have comment assured firm that, is We this on of going speculation successful would call, too the transaction acquisition in but this of transaction as manage the so The activities. forward and supply is by Kerry. It to hand new integration support a over are and and of that to be will Romeo we take of production valuation With for and about the our that venture rest a can joint to as and the working to is California. and time. some we financial only, aspects chain the Cyprus, team doing prepare the third-party without call particularly that to BorgWarner, process I early our diligently subject functions assets confident will value internally homes expanded we move determination expertise
