Thank you, Mr. Fillmore. I'm really happy to be here too.
We're at a stage right now where it's not if the transition towards electric is going happen, but how it's going to happen. It's happening as we speak right now. We see more and more individuals moving toward electrification of transportation for electric cars, but we also see it in public transportation, school transportation and heavy-duty transportation. We have companies like CN, which purchased 50 trucks from Lion. We have companies like Day & Ross that are doing transportation. We have a lot of companies that are moving toward electrification.
To me, as of today, everything that does under 400 kilometres should be all electric, because the technology is available now. It's a question of managing change.
There are four things that I say about the success of transitioning towards electrification. First is legislation. The government needs to engage by having zero-emission dates, such as 2030 or 2035, but it needs to be clear. I always like to reference the ACT rule in California.
Second is incentives. However, incentives won't be there forever. Within five to seven years from now, electric vehicles, even heavy-duty ones, will be at the same price as a combustion engine vehicle, but the savings will be huge. It's also a viable business model.
The third one is supply chains. We need to lower our prices.
The fourth one is speed. We need to act fast if we want to keep Canada as a leader. We have everything here to develop that technology in terms of knowledge, and we have other companies, like New Flyer, Nova Bus and AddÉnergie.
We have everything. We have all the critical minerals there. We just need to make it happen.