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Fiat Chrysler Automobiles has agreed to pay Tesla hundreds of millions of euros. The vehicles of the manufacturer of electric vehicles are therefore counted in its park to avoid heavy fines for breaking the new European rules binding issue.
This initiative will allow FCA to offset the CO2 emissions of its cars compared to Tesla's, reducing its average figure to an authorized level. From next year, the EU's target for average CO2 emissions from cars is 95g per kilometer.
In 2018, average emissions were 120.5 g per kilometer, according to data provider Jato Dynamics. According to UBS, the FCA recorded an average of 123 g FCA last year, pointing out that the builder had "the highest risk of not achieving the goal".
Jefferies badysts predict that the FCA could be fined more than 2 billion euros in 2021 when the new goals will become law. A study by PA Consulting last year revealed that FCA would likely exceed the target of 6.7 grams of CO2 per kilometer – the largest gap between the 13 manufacturers presented.
Under EU regulations, car manufacturers are allowed to bundle their emissions internally, allowing Volkswagen to offset the emissions of VW, Seat and Skoda compared to those of Porsche and Audi cars.
The rules allow competing companies to establish "open pools", but none have so far agreed to do so.
"For Europe, this is the first time that completely separate manufacturers are pooling their emissions as a commercially viable compliance strategy," said Julia Poliscanova, senior director of Transport & Environment, a pressure group and group of companies. research on green energies. "Once you've created a pool, it's good for years."
FCA plans to sell hybrid and electric vehicles in the future, but is considered to be behind most other automakers in this part of the market. Its low sales of electric cars make achieving the EU's goals almost impossible without Tesla's agreement.
CEO Mike Manley previously said the company would use all options available to achieve its goals, including abandoning the most polluting cars in its lineup and continuing to sell diesel vehicles producing less CO2 than the models to petrol.
According to a statement published on the European Commission's website on 25 February, Fiat Chrysler formed an open pool with Tesla, saying Tesla would be part of its brand fleet, including Alfa Romeo, Jeep and Maserati.
The document also revealed that Japanese rivals Mazda and Toyota would form an open pool. Toyota holds a 5% interest in Mazda.
The statement does not disclose financial details. The FCA declined to comment on the financial specifics. Tesla confirmed having submitted its intention to build the pool on Feb. 22 "to give others [carmakers] the possibility to join the swimming pool. The applications closed on March 25th.
Tesla generates significant revenue by selling zero-emission vehicle credits in the United States. Last year, it had earned $ 103.4 million, against $ 279.7 million the previous year. Revenues can fluctuate significantly depending on when the contracts are executed, the company said in a document filed in February.
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