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theres another company that has its work cut out for them its xpong that stock is jumping today the Chinese EV maker posted a loss per share of 20 cents for its latest quarter with sales coming in noticeably lower than the same period last year but the stock is up today because the startup has announced cost cutting measures and also restructuring measures going forward so in recent months expand Vehicles havent been selling as well because of competition Tesla lowered its prices for its vehicles and x-pang followed suit as well so Shares are down about 89 percent from their record of 74 dollars back in November 2020. the Chinese market is much more competitive than here in the U.S the EV adoption is greater in China than in the US and the competition though in China is fierce Tesla is still seen as the top tier along with Neo as well and its up its been uphill for expanding because even though they did well they did well last year there are seeing a Slowdown they have had to lowe