Shenzhen: the world's first major city to run entirely electric bus and taxi fleets

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.