Fiat did it and Honda does it: buy CO2 credits from Tesla. Now Jaguar Land Rover is also pulling the sleeve of the American manufacturer.
Tesla is not only breaking its own sales records, it will also be able to benefit from a nice year-end bonus from Jaguar Land Rover (JLR), which will form a ‘CO2 pool’ with the American manufacturer. Just like Honda already does. Until recently, FCA (FiatChrysler Automobiles, now merged into Stellantis) had also such agreement. They are not alone, because Mazda has attached its CO2 wagon to Toyota.
Tesla will bundle the electric vehicles it sells in Europe with all JLR and Honda sales to avoid paying heavy fines for harmful emissions imposed by the European Union.
1 billion euros
Anticipating possible fines for non-compliance with EU rules on greenhouse gas emissions, JLR had set aside £35million (about £41.3million), though the group of the two British brands claimed to be able to CO2 -achieving objectives. However, that ultimately does not appear to be the case and that is good news for Tesla, which will sell some of its carbon credits to Jaguar and Land Rover.
The icing on the cake for Tesla, which has reportedly already generated €1 billion in revenue in the first three quarters of 2021 by helping manufacturers meet their emissions targets.
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