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Fortune
Fortune
Nicholas Gordon

Tesla offers cash rebate to China customers one day after agreeing to end EV price war

A video recording of Elon Musk, with Chinese subtitles, playing at the World Artificial Intelligence Conference in Shanghai. (Credit: CFOTO—Future Publishing via Getty Images)

There seemed to be a truce in the brutal price war between Tesla and its Chinese competitors—but it may be over before it has even begun.

Tesla, along with 15 other automakers, made the promise at China Auto Forum in Shanghai on Thursday. The U.S. company was the only foreign firm in the lineup, which otherwise included EV-focused companies like BYD and Nio, and legacy auto manufacturers like Geely and SAIC Motors.

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