Tesla and Chinese Rivals May Sign Truce After EV Price War With Socialist Values Pledge

Tesla and Chinese Rivals May Sign Truce After EV Price War With Socialist Values Pledge
China's Foreign Minister Qin Gang, right, poses for photos with Tesla Ltd. CEO Elon Musk in Beijing, China, on May 30 2023. Ministry of Foreign Affairs of the People's Republic of China via AP
Bryan Jung
Updated:
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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 in their conflict.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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