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Chinese EV startups face mounting losses despite sales boom


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

Rising battery prices and supply chain delays this year have further pushed up costs for emerging electric vehicle makers. Startups are already burning cash to introduce new, smarter models, with heated massage seats or battery swap services, to gain a foothold in the world’s biggest car market.

wsj

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