MIIT Official Says Efforts Will Be Made to Optimise Development Environment of New Energy Vehicle Industry and Bring Key Raw Material Prices to Rational Level

SHANGHAI, Mar 28 (SMM) – On March 26, Xin Guobin, Vice Minister of the Ministry of Industry and Information Technology (MIIT), said at the 2022 China Electric Vehicle 100 Forum that China's new energy vehicle industry has entered a new stage of large-scale and high-quality rapid development, and the fundamentals of the Chinese economy will remain sound in the long run, and the conditions for supporting high-quality development will not change. The development of China's new energy vehicle industry will still be in a period of important strategic opportunities, but we must also be aware that some new situations and new problems need to be solved: In terms of supply quality, new energy vehicles still have some shortcomings in terms of quality and safety, low temperature adaptability, etc. The integration and development of electrification, intelligence, and networking needs to continue to deepen. In terms of supporting conditions, the supply capacity of key raw materials and parts required for large-scale development, and the guarantee capacity of charging and replacing services need to be improved. The current sharp rise in the price of raw materials for power batteries requires great attention and careful study and resolution.