To cease their EV price war, Tesla and Chinese automakers strike a truce.

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

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

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

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

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

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

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

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

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