The EV price war was put to a stop by a truce brokered by Tesla and 16 Chinese automakers.

At the meeting, Tesla was the sole non-American automaker.

A signing ceremony was held on July 6 in Shanghai with participation from Tesla and 16 automakers with operations in China.

Top Chinese automakers like BYD, Geely, and Xpeng Inc. participated in the event.

The automakers vowed to maintain fair competition and refrain from using unusual pricing in China.

The promise was signed by the manufacturers on Thursday as the price battle was winding down.

Tesla ran into several issues as a result of the EV price war, which infuriated some customers over the company's constantly fluctuating costs.

In a fit of rage, customers once ransacked a Tesla Experience Centre.