China’s EV Startups Suffer Widening Losses Despite Sales Boom

HONG KONG—China’s electric-vehicle market is booming, but the country’s hottest EV startups are seeing losses grow even as sales rise.

Rising battery prices and supply-chain delays this year have driven up costs further for emerging EV makers. The startups are already burning cash to introduce newer, smarter models—complete with heated massage seats or battery-swapping services—to gain a foothold in the world’s largest automobile market.