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Tesla Falls, XPeng Jumps in China's Key EV Market

Tesla Falls, XPeng Jumps in China's Key EV Market

Stocks of electric vehicle (EV) manufacturers came into the spotlight in premarket trading, following some key news that came out over the weekend. In particular, the latest happenings in China's EV market had implications for both U.S. industry pioneer Tesla (NASDAQ: TSLA) and Chinese manufacturers like XPeng (NYSE: XPEV), and those companies' stocks saw sizable moves as a result. Shares of Tesla dropped 4% in premarket trading Monday morning.