I am trying to help a friend of mine who has an old Nissan Forklift. The model listed on data plate is PHO2A25V.
I had the alternator tested at NAPA today and its charging. It is a 40 amp alternator.

The two wires that are cut is close to back of where a connector should plug in. One wire is a solid white wire. It has 12 volts all the time. Looks to be maybe 16 gauge wire ? I think that one should go to the sense terminal on back of alternator but not sure ?

Other one is white with red stripe. It has no power on it with or without key turned on. I believe that wire one would go to the L terminal but would need battery voltage when key is turned on ? I just need to find why no power with key on. Am I on the right track in thinking this ?
It also is grounded on the E terminal.

Thanks for any help. Mr Dillan