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Why U Power Stock Is Up Big This Week

Keith Noonan, The Motley Fool
·2-min read
Why U Power Stock Is Up Big This Week

U Power (NASDAQ: UCAR) stock is making big gains again this week. The electric vehicle (EV) company's share price was up 25.5% from last week's market close prior to the start of today's daily trading session, according to data from S&P Global Market Intelligence. On June 21, China announced that it would be implementing 520 billion yuan (roughly $72.4 billion) in tax breaks to promote the adoption of EVs and other vehicles that use non-combustion fuel sources.

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