Tuesday, 23 April, 2019

FCA to pay Tesla for help in avoiding European emissions violations

Fiat Chrysler Automobiles headquarters are seen in Turin 'Fiat to pool with Tesla to avoid EU fines'
Russell Knight | 09 April, 2019, 15:30

According to the Financial Times, Fiat Chrysler Automobiles (FCA) will pay Tesla hundreds of millions of euros for emissions offsetting credits.

The practice is similar to Tesla selling emissions credits to major automakers here in the United States, something that has netted the EV manufacturer over $1 billion in the last three years. Adding a few battery electric vehicles to the fleet, at least in a mathematical sense, will help a great deal to curb emissions. The 2018 average was 120.5 gm / km, while FCA averaged 123 gm / km.

But the bloc allows for manufacturers to form pools to meet emissions target.

Reports have revealed that Fiat has struck a deal with Tesla, agreeing to pay the fully-electric automotive company hundreds of millions of dollars to include its vehicles in its fleet.

With EU emissions regulations tightening up in the next few years, some automakers have begun to embrace partial or full electrification as a way of avoid hefty fines.

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Current regulations in the USA allow the company to earn credits for producing zero-emission vehicles and sell any extra credits to a rival automaker.

Tesla is reportedly teaming up with Fiat to help it overcome some European Union regulation hassles.

In a statement, FCA said the deal would "optimise the options for compliance that the regulations offer". "The purchase pool is providing flexibility for delivering products that FCA's customers are willing to purchase while managing compliance using the lowest cost approach", said an FCA spokesperson in a statement (source).

FCA is the first carmaker to do so, having filed an application to pool with Tesla in February. The result is that Fiat/Chrysler will lower the average carbon dioxide emissions of its models on the from 2020, applicable to the fleet level of 95g/km and saves the otherwise overdue fines.

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