 All right, wonderful. Welcome all. I understand that we have people joining us from all parts of the world today. So welcome to this session. My name is Jyoth Chedda. I work at NUMO, the New Urban Mobility Alliance, which is housed at the World Resources Institute, looking at how technology is changing our world of mobility and how we can leverage these technologies to meet the goals that we need to for cities. Sustainability, justice, social justice, and I'd even dare to say joy in cities. So welcome today morning. We have a really interesting lineup of speakers and we hope to later on in the session be able to move into smaller roundtables and breakout groups for a more impactful discussion. So to get started, please do keep yourself on mute. So we're talking today about the impact of COVID and really looking at the opportunity today to, as we are in the sea of change, to leverage some of those changes towards building towards a better future for ourselves. So we're going to look at three core aspects today. We're looking at infrastructure, how our thinking has had to evolve or had to change during this time and what that could mean for the future in a post-COVID world, looking at market synergies and regulations and lastly looking at tech innovations and interventions. So I think at this point we should get started and Richa, would you like to move it to our first speaker? Okay, so we're going to start with some fire starter remarks and we'll go on to that for about 35 minutes. We've really asked our speakers to take each of these three topics and give us their perspective of what they're facing on ground and how they're sort of seeing these challenges evolve. Our first speaker, I'm sure all of you know her and have heard her speak before. It's wonderful to welcome Salida Reynolds, who is the general manager of the Los Angeles DOT. So welcome Salida. Thank you so much. Good morning. I hope that you can hear me okay. Yep thumbs up. So good morning from Los Angeles where just until last week, up until over the weekend, we had some of the worst air quality in the world because of the firestorms that have ravaged the western United States over the last several weeks. So both you know climate change, the pandemic and other ongoing sort of challenges for us have directly impacted the way that we think about mobility. When we first, when the pandemic first occurred and the safer at home orders were issued, Los Angeles Department of Transportation went through and systematically removed all of the fiscal burdens that we were putting on residents. So that means that we made our transit system free. We also stopped writing parking tickets for certain types of residential streets, streets we bring in other tickets that we write and we froze any parking fine increases. Immediately after that, we began to repurpose our transit system to serve some urgent needs, to move unsheltered Angelenos into temporary shelters, to move food from distribution centers to places where it could be shared with large populations, older adults and people with disabilities who needed it. And many other sort of needs that arose pretty quickly for public transit to serve and really broaden its definition of what public good and public transit is really for. We also overnight repurposed many of our streets and our curbs. We made residential streets open for cars as guests and elevated people biking and walking as the primary users of those streets. We instituted hundreds of curb changes around the city to allow temporary pickup and drop-off zones for food delivery and other types of goods movement. And we've now repurposed about 2,000 streets and sidewalks in front of restaurants around the city for dining and other use. All of this felt like it was a very rapid deployment of experimental changes to our public right of way. When we investigated the data to understand what had really changed in the way people moved around town, we discovered a couple of things. The first was unsurprisingly in wealthier, whiter parts of the city, it became a luxury not to drive, which is unusual for Los Angeles, the car capital of the world. People who had the ability to work from home and were able to have that luxury drove less. But in low-income parts of Los Angeles and in particularly for black and brown communities, what we saw is that the amount of driving increased because as people lost their jobs in food services, entertainment, tourism, retail, they turned to the only other jobs that were readily available, which was driving. So driving for food delivery and goods movement services like Caviar, Postmates, Instacart, but also driving for Amazon and other Whole Foods, other large scale delivery that was happening throughout the city. What that led us to conclude is a couple of things. First, we need a pathway to permanence for all of these temporary interventions that we put in place. But second and more urgently, we need to begin to invest in a meaningful way in something called universal basic mobility. So in Los Angeles, you can reach about 12 times as many jobs in an hour by car as you can in an hour by transit. We must close that gap if we are going to be able to meet our climate goals and our economic goals, as well as our goals around correcting historic, racial, and socioeconomic inequities. And what that means is that our public transit system must broaden to include ready access to clean, reliable, and potentially free forms of transportation, including driving. So we have to think about an expansion of our EV car sharing programs, an expansion of our bike share programs, micro-mobility programs, and even considering doing things like e-bike libraries where people can come and actually just get an e-bike and take it and use it at their leisure for longer periods of time. But that inclusion of driving and of electric vehicles for individual use and thinking about those as part of our public transit fleet is really the way that we're going to be able to achieve universal basic mobility and try and close that gap and at the same time making sure that we are moving in a meaningful way to meet our climate goals. Thank you. I think Jude, you're on mute. I'm sorry, can you all hear me now? Okay. Apologies for that. Thank you so much, Lita. I think that was just a great way to kick us off, really highlighting I think some of the challenges that Black or Brown communities in your city are facing today in general, but really having to rethink the entire transport ecosystem and what different pieces of it to mean to people and how we think of privilege. Let's move on next to welcome Professor Gio, who's an expert in public transportation from China. We've invited him to share how the Beijing Transportation Institute is sharing the experience from China on how consumer preferences have moved away from public transit and how that's been affecting cities. Professor, over to you for a few minutes. Jeff, you are on mute. Okay. Yes. I think we can hear you now. Okay. Okay. Thank you. Hello, everyone. Good evening. And you are in the morning, right? Yes. Okay. The coronavirus has a big impact on the city's life. Especially for the public sector. The buses and the subway, the red shift was reduced by 80%. Like many other cities in China, it's also the same situation. We've been doing a lot of efforts during this hard time to protect people. During this pandemic period, the public transit in China, many cities in China were still under operation. Like in Beijing, the buses and the subway was always provided services to the public. We introduced some many provision measures to control the density and the crossness of the public transit. Like we produced a system of online reservation system to let the people have their QR codes while entering the subway stations. You know, in normal cases, in the peak hours, the subway system was very crowded. People had to wait outside the stations. And also during the virus pandemic period, we want to control the properties or density of the subway. So we keep the people outside the station. But still, there are some risks for them to be infected when the people are too crowded. So we introduced a system to let people reserve their arrival times. That means allow them to wait at home until the, there's a very interesting system. And we're very well during this, we introduced it from early of this year and running more than six months. It's a very good response. After this pandemic period, the public, the traffic, the transport system in Beijing, the behavior of the people's travel has changed a lot. The bad thing is the public transit that should reduce dramatically. Although the normal, the daily life in the city of Beijing has been go back to the normal, but the public transit is still under its capacity a lot. And at the same time, the private cars, the people more rely on the private cars. That's the not good things for our transport system. The good news is the public bicycles, the sharing bicycles have increased a lot. It nearly doubled comparing that of the last year. And also the online shopping, the food delivery services, it's very common. The people who are using the teleconference and telecommunicating. So the travel demand is reduced. So that may be apologies, Professor. I think you have a lot of rich information to share with us. And so we really look forward to getting deeper into those in the breakout sessions. I'm so sorry to have to interrupt you. So let's get our next remarks from a slightly different part of this ecosystem, thinking about last mile parcel delivery. And so welcome to Mr. Hyde of McKinsey to join us next. Thank you very much for the kind introduction. So my name is Bant Hyde. I'm a senior partner at McKinsey. And we worked on the research on the future of last mile driven by the COVID impact. So first of all, the last mile ecosystem increased by roughly 23 to 26 percent, depending on which region you are in. But more importantly, we think that parts of that increase in last mile deliveries are there to stay structurally. So between 10 to 20 percent of that increase are going also to stay afterwards where we have a structurally higher demand. We see five points on the change of COVID on last mile. First, we see an acceleration of the technology advancements in the supply chains. So things for consumers are getting more comfortable with contact less deliveries. We see a huge adoption of parcel lockers, trunk deliveries and alike. We also see a shift in the autonomous technology, which is now tailored in terms of research less on the passenger car application and moving gradually into goods, so long haul, but also short distance. And a second point of what we found in our research is that we see a higher adoption of the zero emission technology deployment. Think of, for example, Germany is increasing its subsidies and support for EV fleets to 9000 euro per vehicle. China continues its tax breaks and continues to invest into that sector. But you see also some private sector investment speed Amazon with its 100,000 orders planned for Rivian on a zero emission vehicle or in Europe they just ordered 18,000 EVs to also spur their zero emission fleet. Similar things are happening with UPS and arrival on 10,000 vans. And we see also other categories such as furniture being decarbonized in the delivery if you just know the recent announcement from IKEA. Number three is a stronger pull and push from cities. So you have seen that Europe was pretty bullish on the deployment of a decarbonized zero emission delivery. We also have new tenders in the post COVID world that come out. Think of Santa Monica just put out an RFI for this. Number four in our work is these changes are here to stay. So that's not just a temporary hike, but we see some structural movements, especially in categories that go beyond the classical parcel. So think of food, grocery, furniture and alike. And also consumers, if you ask consumers, we found in a survey that more than 50% of the younger consumers, the millennials care about environmentally friendly delivery. And finally, as an impulse from that work, we see that this momentum is happening now. So we don't need to wait for changes like drone delivery, which are further out. But this is really momentum that happens now. And that's deployment of technology that is already available, like EV, like parcel locker, or like use of data for the route optimization in the delivery. So net net, this is more an evolutionary revolution that we see. But this is nonetheless, not less exciting, but it's really exciting to see that we see clearly a pickup in the momentum in this industry. Thank you very much. Let me now invite Mr. Le of Envision Group. So it would be great to understand a little bit about how you're thinking about how COVID-19 has changed decarbonization efforts across mobility. Okay, I think we're having a little bit of a challenge. He is not on right now. So let's move over to our next speaker. Apologies for mispronouncing this, but Ms. Saleh Breeds, who's joining us from Cruz, over to you. And please correct your name pronunciation if I got that wrong. Thank you. And good day. I think that covers everyone, the full spectrum of where we're all at. My name is Rochelle Saleh-Rizzi, so very close. Thank you for that kind introduction. I'm Senior Manager of Government Affairs at Cruz, which is an all-electric autonomous vehicle company headquartered in San Francisco, California. So hopefully my remarks come at a great time where Bernd really set up sort of the spectrum of what we've seen in response to the COVID-19 pandemic. What we've seen in the United States is that the COVID-19 pandemic has had a profound impact on the autonomous vehicle industry in general. We've seen companies quickly pivot to deliver medical goods, deliver groceries and meals. For Cruz's part, we were testing our all-electric autonomous vehicles in San Francisco in the full 7x7, as we call it, prior to the COVID-19 pandemic. Obviously, in the middle of March when we all went into shelter in place, our plans had to change. But we did start to look around and we asked those questions, what could we do to help our community and how could we do it safely? And one of the biggest things that we saw was that food insecurity, which was already an issue in San Francisco, it's reported that about 15% of the population suffered from food insecurity prior to the COVID-19 pandemic. We were hearing from local food banks that they had a 50% increase in demand or more. And so what we did was we took those vehicles and we quickly partnered with local food banks to start delivering contactless meals and groceries to vulnerable San Franciscans. What we found since we we sped this process up when we launched the program in April, we have delivered over 85,000 contactless meals, which is pretty amazing considering this wasn't even on our radar at the beginning of the COVID-19 pandemic. But we've also found that we are able to deliver and really impact the community that needs it most. Over 80% of the deliveries have not only occurred in the communities that have been highest impacted by the COVID-19 pandemic, but also for those that are below the San Francisco median household income. So what we've seen is that the communities that maybe weren't aware of self-driving technology, weren't aware of zero emission technology, are able to benefit from this service and this essential service that we're providing with meal and grocery delivery and really take part in this, I would say, revolution on urban mobility. The other thing I'd like to point out, and because we're talking about sustainability, is the importance that cruise places on an R0 emission fleet. So as I mentioned, all of our vehicles that are currently testing and currently part of this program providing these contactless meals, are zero emission vehicles. But we've also committed to not only run them on 100% renewable energy, which is what we're doing today, but our next generation vehicle, the origin, will also be a zero emission vehicle. So we think that through this pandemic, what we've been able to show is that zero emission, all autonomous vehicles are going to be able to provide a vital service in the contactless delivery, but also thinking about, unfortunately, where our next crises come from. In California, we've had severe wildfires, that there may be opportunities for companies like cruise to help to provide meal delivery, to provide potentially generation services with our zero emission vehicles, and help our communities really get back on track and respond to these pandemics and global crises. So excited to be here today and join the breakout session and learn from everyone else on the panel. Thank you so much. Let's move it to our next speaker, Mr. Leipfurt of Leesplan. How are you seeing this new normal evolve? Great, thanks a lot. So I'll talk a little bit briefly about the rise of the green van, or electric light commercial vehicles in the new normal. So Leesplan is the world's largest fleet provider. We have 1.9 million vehicles on the road. Around 25% of those are LCVs, or light commercial vehicles, delivery vans. Our observation is probably devastatingly insightful to everyone, but we've seen a huge increase in e-commerce. That in turn has driven the demand for delivery vehicles, but one of the really interesting features that we've noticed in the past few months is people don't just want more, they want different. So they want electric delivery vehicles, they want zero emission, and they want that because, number one, a lot of these corporate fleet operators, so not just the large delivery companies, but also the corporates that run these delivery fleets, they disclose their own emissions profiles. Their fleet is often a large part of that. They want to bring that right down, and also because they want to maintain market access into densely populated urban areas, which increasingly have lower emission zones, and look, over time, more and more unfriendly to old-fashioned petrol and diesel delivery vehicles. We also see that there's a big general sense that people got used to having some clean air around them as traffic levels dropped off at the beginning of the various lockdowns, and they don't want 15 diesel LCVs clogging up their streets with different providers. So we actually saw a huge increase in inquiries from our LCV customers for cleaner technologies, and until recently, to be frank, that was pretty difficult to square to circle and demand to service. How do you get all this online shopping into your home, into your street without a diesel van? But the really good news is that the big OEMs are rapidly beginning to introduce a new range of electric first, mid to large-sized electric delivery vehicles, where you've got the traditional converted models, such as the Renault Kango, now being supplemented by things like the Mercedes E-Vito or the E-Sprinter. So these are electric first models, so they're not just converted, they're electric first, and that's really important because if you convert an old van or a petrol or diesel one, you often have to make a trade-off between payload and volume, and that doesn't work if you're a delivery company. You've got to be able to do both, and with these new range of models, we're starting to see that you don't have to make that trade-off anymore. These new electric vehicles often also have a range of around 160 kilometers. Some manufacturers claim that some of their vehicles range up to 270 kilometers, and that's more than enough for the average urban delivery vehicle. So what do we see is a huge increased demand for delivery vehicles, but also sustainable delivery vehicles, and that the technology is increasingly there. Now in terms of scaling those technologies and making sure everyone uses electric light commercial vehicles, I think there are a couple of hurdles and barriers we all need to think about. One is just acceptance. People are very used to driving the transit van, so maybe slightly skeptical before they take the leap into a new technology, but we believe that over time that hurdle will be overcome. But the other one is the lack of charging infrastructure, and that's a much more difficult one, and maybe something our friend from Shell will talk about. That really requires lots of different people to work together, governments, companies like Shell, companies like Leaseplan, delivery companies themselves. You cannot go for delivery vehicles if you can't charge them. So what we see is that customers increasingly want to look at maybe a particular part of the fleet or a particular route where the infrastructure exists and that they can electrify that first, and that's a thing everyone can do right now to make the switch. So overall, we see the demand going up, we see the technology increasingly there, but we see some hurdles that should be addressed, and that's why it's great that you guys bring a selection of companies together like this, because that's the ecosystem that is required to make the green van work. Thank you so much. Let me welcome next Mr. Jordan Tank of EBRD, inviting you to make some opening comments. I'm glad to have you here with us. Please go ahead. Matthew, I don't think we can see you yet. Okay, it seems like we're having a little technical difficulty, so let's move to our next speaker, and then if we can, we'll come back to Matthew. I would like to welcome from Shell Mr. Wenke, who's going to talk about retail consumption of energy in cars, which I think is a good segue to the points that Michael was just making. Hi, this is Matthew. Oh, hi, Matthew. I'm sorry, we moved on to the next speaker, and maybe we can wrap around back to you in a few minutes. Is that all right? Okay. Yeah, that's fine. Thank you. Okay. Okay, thanks. Thanks for the kind introduction. My name is Jarek Wenke. I'm the global retail vice president for marketing. Of course, I mean, as a representative of an energy company, I just want to say that we are fully committed and subscribing to the Paris Agreement Goals, and also that that needs very urgent action in terms of climate change, and that includes the decarbonization. Our ambition as Shell is to really transform our business in step with society to become a net zero emission energy business by 2050. And that sounds a long time, but it's also a huge challenge we have ahead. And these emissions we are talking about is not just the emissions created by our own operation, but also the emissions caused by our customers consuming our products. And I will bring that now a little bit to life and talking about retail, the business I represent in Shell. So we have in Shell, we serve daily 30 million customers, as we speak, and we operate in more than 80 countries via 45,000 service stations. So that is just to give a comparison is more than what Starbucks has or McDonald's has in terms of our lens. In COVID, I think our challenge as a retailer was different from many others because we have been recognized by most governments to be a critical part of infrastructure. So our challenge was not how to cope with closing sites. Our challenge was how to keep the sites open, even when infections happened in our service stations. And I'm really happy to say that we managed to keep more than 99% open at all times, just to keep frontline workers mobile, to keep the goods on the roads and to just transport. I would say we see for many years actually a number of trends. We do see a trend for convenience. We do see a trend for digital and we do see a trend of energy transition. So move to greener products. And as we talk about COVID, I just say these trends have hugely accelerated. So we have seen, for example, a significant increase in our stores because customers, they were shying away from big super markets just to avoid being in big groups of people. We also see that typically in our top five customer concerns, we measure with them. We see now that there are three of the top five all to do with hygienics, cleanliness, and also how our service champions are coping with these type of challenges. On the digital side, we see a huge move to, for example, a contactless pay, mobile payment. So everything which helps consumers around this is really there. And even for ourselves, for example, we have launched within the last six months in 15 additional countries home delivery because we are very close to consumers. So there is a big portion of population living very close to our service stations and we are now active in on-demand delivery in 18 countries. We at Shell have just launched Shell scenarios where we are discussing the tension between the wealth, security, and health. And if anybody has an interest, it will be a great read. You can see that on our Shell.com webpage. When it comes to new energies, and if you run a scope like we do with 80 countries, quickly recognize there is not one solution which fits all. And also governments are not all aligned on where to focus. So there is quite different views around the topic. I think what is sort of established is that electric vehicles has, in terms of technology matured, are really here to stay and they will play a very important part, particularly when it comes to passenger cars, but also last mile delivery, a light-duty vehicle type of portfolios. Shell, we have made a very clear strategy shift to accelerate our investments into that space. We are focusing mainly on China, Netherlands, UK, Germany, and specific cities in the US because the globe is big and we have to start somewhere and we see the signpost very positive in those. When it comes to, for example, heavy duty, we believe that LNG, so liquefied natural gas is also an area we invest in, can help on the heavy duty side because it's just the energy density and the weight of these vehicles make electrification much more challenging. So LNG provides already much better emissions. And then in the slightly longer run, we do see that hydrogen is there as well. And if you might want to check out in Germany, for example, we do have already a significant hydrogen network just to learn. There are, of course, also other elements around biofuels or even nature-based solutions, which are two offers we have developed to not force customers to make big decisions. So the biofuel you can just blend into the components. You can use the existing infrastructure and you are already getting positive impact on the emissions and also air quality. Where nature-based solutions is a carbon offsetting offer, which we are introducing in more and more countries. Actually, Netherlands was the first where we started that and at a very little cost, you know, customers can enjoy that. I just leave it here. I think I'm running out of time anyway. Just leave it here and happy to discuss further. Great to be here. Thank you. Thank you very much. Matthew, can we leave your back online now? Yes. Can you hear me okay? This is Matthew. Yes, perfect. Please go ahead. Great. Good morning, afternoon, everyone. It's a pleasure to be here. I work for the European Bank for Reconstruction and Development and very briefly for those who may not be familiar with EBRD. We finance about 10 billion euros of fresh financing anywhere from Central Europe, Southeastern Europe, North Africa in the Middle East all the way east over really very far east all the way to Mongolia. So we do about 10 billion a year. I would say about 30 transport projects are included within that anywhere from sort of Morocco to Mongolia. So it's very, very broad. My remarks with regard to the topic of low-carbon, zero-carbon transport, I'd like to center them really on, you know, in this context of COVID, how we actually see that this is quite an opportunity to help accelerate the decarbonization of public services and we're talking about transport and we think there are real possibilities now because of the movements in technology improvements and price falling prices. Now, we think that we really need to think holistically about an e-mobility approach and we're preparing facilities as we speak for several countries that focus on not only the fleets and the, you know, sort of the operators of public transport of commercial fleets, but also the strategies that countries and municipalities need to think about. We've, from our analysis across four or five of the target countries, we've seen what a difference it can make when regulatory practices support actually a conversion to e-mobility by looking, for example, at the level of diesel fuel subsidy. That makes a huge difference. Serbia has essentially total cost of ownership parity after six or seven years versus is still a 40% gap in Egypt where the subsidy for diesel is still, and the prices for diesel are still quite high. The second thing we would say with regard to our approach to public transport, because we do see this as an area of focus, we, rather than going to donors who typically, traditionally would give upfront capital expenditure, CAPEX subsidy grants, rather, what we would, we are doing now with our donors is rolling that gap in the burden of CAPEX that you see still with EV buses. We're rolling that across a several multi-year contractual approach, which we call a green public service contract. And essentially that spreads that out over time. It's performance-based payments. And we think in that way it actually incentivizes the delivery of performance of operations with the suppliers who stick with with the goods that they've sold to the municipalities. The second point I'd like to make is just on charging. We actually think, looking at this, that charging in the urban context really should be focused. One, there's very strong public policy rationale for supporting subsidies to consumers and landlords, people who live in flats, who live in homes in cities. That's where a subsidy should go for that, for deferring the cost of the installation of chargers. But beyond that, we actually think that the private sector should be allowed, the charge point operators, they should be allowed to do business, make deals with hotels, with parking garage companies, with supermarkets, et cetera, et cetera, where they can find the demand, where to place them and allow people to charge as needed. The final remark I wanted to make on infrastructure for charging is that we're now looking at our road sector financing in a different light with this goal of fostering e-mobility. We're now actually making sort of EV-ready or e-mobility-ready roads by thinking about how to upgrade distribution networks with more robust substations, et cetera, so that when you build a road, it's actually ready to accommodate the really high fast chargers that are needed for intercity travel, for example. So I'll stop there in the interest of time and very happy to be part of the conversation. Thank you. Thanks very much, Matthew. Let's take it over to our last opening comments. Ian would like to welcome you and would like to have you talk to us a little bit about what opportunities you're seeing to scale EVs around the world today. Sure. Thank you. Thank you for putting the mic on to me. So as you know, I'm coming to this from a different perspective because I've been a technologist for many decades, funding some of the clean tech that is electrifying the transportation systems. And of course, the session is about how has COVID in the current last couple of months here changed things. One thing that's really striking if you look at the markets is that despite the enormous difficulty with the economy besides obviously the health issue of COVID, you have this in some sectors, this booming stock market. Of course, in the digital models, Google's and Netflix's, Zoom's, but also in some of the new companies which are responsible for these new solutions, most notably with Tesla, but it's not just limited to Tesla. In fact, many of our investments in battery systems, for instance, QuantumScape in electrifying other forms of transportation, whether it's buses, aviation, you may have seen our company at Joby Aviation, etc. They're all kind of living a bit of a boom. And so maybe it's market exuberance, but I don't think so. I think the markets are sensing that what has been holding back these solutions has been a lot of inertia. And COVID, despite creating enormous difficulties, has broken some of that inertia, right? People are realizing we have to revisit some of the assumptions and we have to make allow some of the change to happen faster. And so I think it's a very exciting time to be involved with decarbonization of transportation. There's a lot of things which are counterintuitive. A lot of things which are easier than they may seem harder than might be obvious the other way around. I think there's still tremendous amount of misunderstood. There was, for instance, a comment earlier saying, well, of course, trucks is going to happen slower because it's tougher. That's actually, that's just not right. It's incorrect. The main use of energy in transportation systems is not weight, it's speed, it's aerodynamics. And trucks are actually quite slow vehicles and electrified more easily than cars. Now there's always an application or two that you can look for where it's difficult to electrify. But the low hanging fruit in trucking is in many ways easier to address than it is in automobile, where you have predictable routes, slow speeds and very high utilization. Many things misunderstood also about the need for charging infrastructure and obstacles there. And maybe I'll end with perhaps the biggest obstacle to realizing even faster what is happening already at this kind of scaling law exponential pace is simply the industrial capacity. We just don't have today the industrial capacity to move faster. We are using every battery that's being made in the world. We're using every piece of power electronics being made. We're using every motor in the world. And it's taking time to build up that industrial capacity into these new products. And frankly, a lot of capacity industrially is with incumbents who see what's happening. And I have a lot of compassion for that, but have a really hard time adapting because it involves difficult decisions and shutting down certain factories and letting go of certain jobs and then retraining, reinvesting in new areas at the same time. You may have seen today the announcement at General Electric finally giving up on coal, which it had just invested less than 10 years ago, almost 10 billion dollars in doubling down into. So it's just very, very difficult for incumbent companies to kind of change their ship and go in a different direction. But I just wanted to leave you with that high level thought that it's actually, surprisingly, a boom time right now for electrification and its friend, which is autonomy, because of course there are many intersections between autonomy and electrification. Thank you very much. Let me give a quick summary of some of the points that we've heard today because I think we've had a really broad range of perspectives. And I think I'll start by saying that I think the point that you've just made that COVID has broken our inertia is a very good one to make. We're seeing around the world things happening at various sort of scales, whether it's sort of at the street scale, the neighborhood scale, or larger scale, things that we didn't think were politically possible to happen before. And so we're working and we're thinking about these changes in a context where it almost seems like the ground below us has really slipped or has shaken. It really struck with me, Salida's point about that not everyone has the luxury of staying at home and meeting their needs through walking and cycling. So I think in the context of thinking about decarbonization sort of where really we need to put at the center of this a big question of access and equity. We also heard about how various stakeholders are rethinking vehicles themselves with an urgency that we haven't perhaps seen before. And we're seeing a growth in e-commerce and changing consumer sentiment or possibility and potential for how consumers will look to some of these new technologies with more open minds. We're not only seeing how companies are committing to decarbonization efforts, but also rethinking their own models and re-looking at their assets to think about how they can be used in new ways in this new economy that we're building. And I think lastly we have a very big question which is do we have the regulations? Do we have the capacity? Do we have the mindset to move at the speed that we need to move at? And that is a really big question. So we're going to break out into three groups at this point. Our wonderful colleagues who are doing a lot of work to make this smooth on the back end are I think seamlessly going to put us into three groups, but they're along the three topics that you can see on the slide in front of you. So the first around critical infrastructure, the second around markets, synergies and regulations, and the third around technological interventions. And so we're going to be in those groups. Let's see how much time do we have left? It seems about 20 minutes or so if that's correct. So we'll be able to have a much more in-depth conversation. We're going to have you all have access to a whiteboard to really be able to sort of populate some of your ideas and actually also do a bit of a voting within your groups. We'll convene as a larger group and then we'll have a close. So thank you very much.