Tesla and its rival electric vehicle manufacturers in China signaled a truce after a months-long price war and agreed to a “socialist values” pledge.
Tesla CEO Elon Musk, who is also the owner of Twitter and SpaceX, and Chinese automaker CEOs, agreed to adhere to a “core socialist values” pledge and to compete fairly in China’s EV market after Beijing ordered the industry to rein their conflict.
The car companies also said they would avoid “abnormal pricing,” which may signal an end to the 2023 price war that has disrupted the industry in China.
The automakers further pledged not to mislead consumers and vowed to help stabilize growth and avoid risk in China….