[Script Info]
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[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.00,0:00:04.32,Default,,0000,0000,0000,,So the city of Shenzhen is\Nactually the first city in the
Dialogue: 0,0:00:04.32,0:00:10.17,Default,,0000,0000,0000,,world to achieve a full electric\Nbus and taxi fleet. So that
Dialogue: 0,0:00:10.17,0:00:16.08,Default,,0000,0000,0000,,means 16,000 buses and 23,000\Ntaxis. So as you can imagine,
Dialogue: 0,0:00:16.08,0:00:25.26,Default,,0000,0000,0000,,that's a really big transition\Nto make happen. And this, of
Dialogue: 0,0:00:25.26,0:00:29.49,Default,,0000,0000,0000,,course, is driven largely by\Npolicymakers that we have and
Dialogue: 0,0:00:29.49,0:00:33.54,Default,,0000,0000,0000,,trying to advance the industry of\Nthe electrical vehicle. And
Dialogue: 0,0:00:34.14,0:00:37.23,Default,,0000,0000,0000,,behind this political will there\Nis a lot of collaboration
Dialogue: 0,0:00:37.23,0:00:40.62,Default,,0000,0000,0000,,between different departments in\Nin a municipality, for example,
Dialogue: 0,0:00:40.62,0:00:45.18,Default,,0000,0000,0000,,land use for building charging\Nstations and charging poles and
Dialogue: 0,0:00:45.18,0:00:49.08,Default,,0000,0000,0000,,the traffic control to give\Npriority to the electrical
Dialogue: 0,0:00:49.08,0:00:52.68,Default,,0000,0000,0000,,vehicles. And also, of course,\Nfinancing plays a big part as
Dialogue: 0,0:00:52.68,0:00:57.69,Default,,0000,0000,0000,,well. However, not to overlook\Nthere's the innovation in the
Dialogue: 0,0:00:57.69,0:01:00.96,Default,,0000,0000,0000,,private sector and finance\Nsector also play a really key
Dialogue: 0,0:01:00.96,0:01:05.58,Default,,0000,0000,0000,,role in actually making it\Nhappen. As you can imagine,
Dialogue: 0,0:01:06.45,0:01:10.50,Default,,0000,0000,0000,,transitioning from a diesel\Nvehicle to an electrical
Dialogue: 0,0:01:10.50,0:01:14.25,Default,,0000,0000,0000,,vehicle, it's actually really\Ncostly. So for example, one
Dialogue: 0,0:01:14.25,0:01:20.13,Default,,0000,0000,0000,,electric bus costs about 1.8\Nmillion RMB, which is a lot of
Dialogue: 0,0:01:20.13,0:01:25.11,Default,,0000,0000,0000,,money, and they have to have a\Nlot of them. So there was a lot
Dialogue: 0,0:01:25.11,0:01:29.67,Default,,0000,0000,0000,,of national and city level\Nsubsidy to make it happen, which
Dialogue: 0,0:01:29.67,0:01:32.61,Default,,0000,0000,0000,,really took a lot of pressure\Naway, but in the end it's still
Dialogue: 0,0:01:32.61,0:01:35.70,Default,,0000,0000,0000,,a lot of money, a lot of\Npressure for the bus companies.
Dialogue: 0,0:01:36.42,0:01:41.22,Default,,0000,0000,0000,,So the private sector the\Nfinance institutes come
Dialogue: 0,0:01:41.22,0:01:45.90,Default,,0000,0000,0000,,together, and then they offer\Nthis scheme that basically the
Dialogue: 0,0:01:45.90,0:01:50.49,Default,,0000,0000,0000,,financier to buy these buses and\Nrent them out to bus companies
Dialogue: 0,0:01:50.52,0:01:53.10,Default,,0000,0000,0000,,to help them to achieve this\Ntransition.