Tesla is offering cash rebates to buyers in China despite promising to end 'abnormal pricing' in the world's biggest EV market

• Tesla is offering rebates worth nearly $500 to Chinese buyers of a Model 3 or Y, Reuters reported.
• The move comes just a day after Elon Musk's carmaker pledged to help end price wars in China.

Just a day after Tesla pledged to end a lengthy price war in China, Elon Musk's EV maker hatched a new plan to sell more cars.

According to a company announcement Friday seen by Reuters, Tesla said it would offer a 3,500 yuan ($483) rebate to buyers of Model Y and Model 3 vehicles who were referred by someone who already owns a Tesla.

The rebate appears to be a price cut in everything but name as Tesla continues to try to increase its slice of the world's biggest EV market.

However, the move comes just a day after Tesla and 15 other companies pledged to to bring an end to "abnormal pricing" and other methods that were supposedly distorting the auto market in China.

In a non-binding agreement translated by Bloomberg, the carmakers also agreed to assess marketing methods, while also touting the vague ambition of promoting "core socialist values."

Tesla began cutting prices of its Model Y and Model 3 in China in October last year amid an economic downturn hit sales.

A second price cut in January inspired some protests at the company's delivery centers and showrooms, Reuters reported at the time.

While the price cuts led Tesla's quarterly profits to plummet, the company has also significantly increased sales as a result.

According to data from the China Passenger Car Association, Tesla delivered a record 93,000 vehicles in China in the three months to June 30.

Tesla produced a record 480,000 vehicles globally in the same period, but only delivered about 466,000 to customers in the closest it gets to a sales tally.