Why did TOYO's operating expenses surge in Q3 2024?

TOYO's operating expenses increased by $3.7 million in Q3 2024, primarily driven by the following factors: 1. **Plant and Other Costs**: There was a significant increase of $5.3 million in plant and other costs. This suggests that TOYO incurred more expenses related to its operations, possibly due to increased production or maintenance costs. 2. **Personnel Expense**: Personnel expense increased by $1.0 million. This could be attributed to higher labor costs, additional staff, or increased salaries. In summary, the surge in operating expenses was likely a result of a combination of increased plant and other costs, and higher personnel expense.