The China Association of Auto Manufacturers (CAAM), which includes EV makers such as Nio, Xpeng, and Tesla, retracted the pledge made by 16 of its members to avoid “abnormal pricing” just two days after its publication, according to Reuters.
The CAAM cited antitrust law as the reason behind the retraction, meaning that the EV price war started by Tesla – which, ironically, was among the companies backing the pledge – will probably continue, at least in China.
The 16 automakers made the pledge on Thursday, and on Saturday it was already retracted. But before that happened, Tesla rolled out a revamped version of its referral program on Friday, including price cuts for all of its passenger vehicles, as well as credits that can be used by customers in the carmaker’s smartphone app to buy Supercharger miles and entries in the official Cybertruck raffle.
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