Fiat Chrysler to pay Tesla for CO2 emissions credits

212

Fiat Chrysler (FCA) confirmed Sunday (7 April) that it is to pay hundreds of millions of dollars to Tesla, the zero-emissions electric carmakers, to avoid getting hit by European Commission fines.

The statement from the California-based firm confirmed a report in the Financial Times that FCA was paying Tesla, whose electric cars have no CO2 emissions.

Tesla has made over $1 billion in the last three years by selling emissions credits in the United States, according to its annual report to the US Securities and Exchange Commission. Regulations allow a manufacturer of zero-emission vehicles to earn credits and sell excess credits to other manufacturers….

An excerpt from Euractiv