Tesla and Chinese Rivals Signal Truce in Brutal EV Price War

(Bloomberg) — Tesla Inc. and China’s top automakers pledged to maintain fair competition and avoid “abnormal pricing” in the world’s biggest EV market, signaling a possible end to a price war that’s rattled the industry this year.

Executives from 16 companies took part in a signing ceremony Thursday at the China Auto Forum in Shanghai, acknowledging and committing to four points laid out in the pledge. They included BYD Co., Nio Inc., XPeng Inc., Geely and Chery Automobile Co., and Tesla was the only foreign brand.