In China, if you buy an electric vehicle, you'll receive a license plate for free — only one of the benefits the Chinese government is offering in order to rev up the country's EV market. Chinese consumers bought more than double the number of electric cars that the U.S. did in 2016, according to analyst data, and the government has said it wants 11 percent of all cars sold there to be electric by 2020. Marketplace Tech host Molly Wood talked with Marketplace's China correspondent Jennifer Pak about the supply and demand of the Chinese electric vehicle industry. Below is an edited transcript of their conversation.
Molly Wood: Jennifer, what's the infrastructure like there? What's necessary for electric vehicles to really take off?