Thanks. This is helpful. You point out something many people overlook, that as ICE sales decline, the mandated number of EVs to sell also decline. This why apart from Tesla EVs sales are generally declining too. Anti-EV people are quick to highlight declines in EVs sales to argue that people don't really want them. But this ignores that most EVs sold are still largely a compliance play. So what do we make of VW? If they have the capacity, but the compliance hurdle falls with ICE sales, what do they do? If they are not turning a profit on these vehicles apart from compliance value, then they reduce production. If demand is not strong, sales also wane. So it it not clear if they are demand constrained or compliance constrained. If, on the other hand, demand was strong with these vehicles priced at a healthy margin, then of course they would sell as many as they could produce. It's a tough year for everyone, but I suspect that these vehicles are not profitable to grow much beyond compliance dictated levels. If that is the case, they really are not yet competing with Tesla. They might only be near the top of the EV list because selling EVs is a cost of doing business as automaker.