(Photo source: CnEVPost)

The cost of new energy vehicles in China is still high, and safety and reliability, low-temperature performance and ease of use still need to be improved, Xin Guobin, vice-minister of the Ministry of Industry and Information Technology (MIIT), said Thursday.

He made the comment during a video presentation at the 3rd World New Energy Vehicle Conference (WNEVC2021) in Hainan, according to the China Securities Journal.

Xin said China's power battery industry is under pressure from rising prices of mineral resources such as lithium, cobalt and nickel, and the MIIT will work with relevant departments to accelerate coordination and promote the high-quality development of new energy vehicles.

The development of the new energy vehicle industry is a strategic choice for China to achieve the goal of "carbon neutrality" and has made a series of achievements, he said.

China's new energy vehicle production and sales in August both exceeded 300,000 units for the first time, with a market penetration rate of nearly 11% and private purchase of new energy vehicles accounting for more than 77%, he said, adding that the gap between local brands of new energy vehicles and international brands has narrowed.

The development of China's new energy vehicle industry still faces many new problems and challenges, and the whole industry needs to work together to promote the development of low-carbon industries, low-carbon products, low-carbon transportation and low-carbon energy, he said.

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