So the city of Shenzhen is
actually the first city in the
world to achieve a full electric
bus and taxi fleet. So that
means 16,000 buses and 23,000
taxis. So as you can imagine,
that's a really big transition
to make happen. And this, of
course, is driven largely by
policymakers that we have and
trying to advance the industry of
the electrical vehicle. And
behind this political will there
is a lot of collaboration
between different departments in
in a municipality, for example,
land use for building charging
stations and charging poles and
the traffic control to give
priority to the electrical
vehicles. And also, of course,
financing plays a big part as
well. However, not to overlook
there's the innovation in the
private sector and finance
sector also play a really key
role in actually making it
happen. As you can imagine,
transitioning from a diesel
vehicle to an electrical
vehicle, it's actually really
costly. So for example, one
electric bus costs about 1.8
million RMB, which is a lot of
money, and they have to have a
lot of them. So there was a lot
of national and city level
subsidy to make it happen, which
really took a lot of pressure
away, but in the end it's still
a lot of money, a lot of
pressure for the bus companies.
So the private sector the
finance institutes come
together, and then they offer
this scheme that basically the
financier to buy these buses and
rent them out to bus companies
to help them to achieve this
transition.