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