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Wu Jin

Wu Jin

Zhen Wu (Wu Zhen), automotive executive — former President of Magna China, now Vice President of International Business Development China at Magna International.

Sep 24, 2026

27:01
Why is that? Is that just consumer demand? Is that top-down?
Wu Jin
Wu JinGUEST
27:05
I think maybe if I answer this in a simple way, I think the first initiative or a barrier has been removed is the government gave free of charge green, uh, license plate, particularly, uh, we are talking about Shanghai.
Wu Jin
Wu JinGUEST
27:22
So maybe one thing I also have to add, the whole tration rate of, uh, the new energy vehicles, uh, in the cities are much higher than the rural area because of charging infrastructure, because of this free of charge license plate.
Wu Jin
Wu JinGUEST
27:39
So when the EV players, they launch their product, of course, at that time, the selling price, average selling price was relatively high.
Wu Jin
Wu JinGUEST
27:49
So they put the launches product in the big city, Shanghai, Beijing or Shenzhen.
Wu Jin
Wu JinGUEST
27:54
And in Shanghai, they no doubt became very successful is if you have bought a gasoline vehicle, you have to pay, depends on the lottery system by each month, between 15,000 US dollar to 20,000 US dollar.
Wu Jin
Wu JinGUEST
28:13
On top of the money you are going to buy the vehicle, so which is certainly a big financial burden to the normal consumers.

9 MINS LATER

36:58
But yes, it's two economies in, in very different stages of development, but I, I think we can learn a lot from China's approach.

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