Chinese electric-vehicle makers are intensifying a price-driven battle for market share after Xiaomi and Nio unveiled new financial and product milestones that underscore pressure on margins and the need to broaden their customer bases. Xiaomi said second-quarter revenue from its auto and artificial-intelligence unit surged 234% from a year earlier to CNY21.3 billion ($3 billion), with electric cars contributing 97% of the total. The division’s operating loss narrowed to CNY300 million and the company expects it to turn profitable in the second half of the year, citing what it called industry-leading gross margins following the launch of its second EV model. Rival Nio moved to capture a wider slice of the market by pricing its revamped ES8 sport-utility vehicle at 308,800 yuan (about $43,000) under a battery-subscription plan, well below the 498,000-yuan sticker of the earlier version. Chief Executive Officer William Li said lowering prices is essential for the company’s survival amid fierce domestic competition. Investors welcomed the strategy shift. Nio’s New York-listed shares rose 9.27% to $5.54 on Thursday and gained as much as 10% in Hong Kong trading the following day, adding to a double-digit year-to-date advance. The latest moves by Xiaomi and Nio highlight how Chinese EV makers are balancing aggressive pricing with profitability goals as they confront slower economic growth at home and higher tariffs abroad.