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.