[China’s Covid lockdown rules are sending prices higher, says Chinese EV start-up] Covid-related restrictions have increased production costs for Chinese electric car start-up WM Motor, even as existing chip and battery shortages are driving up costs, CEO Freeman Shen told CNBC. “Adding all these things together, this industry is a fast-growing industry, but the cost part of the equation is also going to be a challenge,” Shen, also founder and chair of WM Motor, said Wednesday. Sales of new energy vehicles which include battery-only and hybrid-powered cars more than doubled last year in China, the world’s largest automobile market. The...