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Recently discovered documents show that General Motors (GM) and Fiat-Chrysler (FCA) are buying federal US GHG credits at Tesla.
This creates a new source of revenue for Tesla, although it is probably temporary.
Bloomberg discovered the federal deposit and reported today:
"General Motors Co. and Fiat Chrysler Automobiles NV disclosed to the State of Delaware earlier this year that they had entered into agreements to purchase federal greenhouse gas credits from You're here. Although the deposits are not detailed, they have never been reported before. They also represent the first recognition of automakers that they are turning to Tesla for help in complying with the intensification of US environmental regulations.
It appears that GM asked Tesla for a credit purchase earlier this year, while FCA bought it four times in 2016, 2018 and earlier this year.
Tesla has generated more than $ 2 billion through the sale of environmental credits over the years, but these credits primarily consist of ZEV credits from CARB states, primarily California.
At present, they are seeing a demand for GHG credits at the federal level despite Trump administration finalizing the removal of the fuel economy rules.
GM and FCA both said they were buying Tesla's credits to protect against any regulatory changes.
We recently learned that FCA was planning to pay Tesla up to $ 2 billion for regulatory credits in Europe.
Electrek's Take
If there is one thing that these automakers hate more than the manufacture of electric cars, it is sending money to Tesla for not having them manufactured.
This should be another way to motivate them to build more of their own electric vehicles so they do not have to buy Tesla credits anymore.
This is apparently the FCA project in Europe, as they announced their intention to buy credits from Tesla in 2020 and 2021, and then to be independent in 2022 with their own electric vehicles.
In the case of US federal credits, I think the situation is a little different.
It seems that Trump does not plan to make car manufacturers pay for the sale of polluting cars, but FCA and GM may think that a change of power in 2020 could lead to stricter rules in the area of fuel economy. fuel and wish to accumulate more credits on a case-by-case basis.
In the meantime, Tesla can use the revenue generated by these credits to accelerate its own electric vehicle programs and strengthen its lead in the electric vehicle segment.
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