REUTERS: Italian-U.S. carmaker Fiat Chrysler Automobiles NV has agreed to pay electric carmaker Tesla Inc hundreds of millions of euros to allow Tesla vehicles to be counted in its fleet to avoid fines for violating new European Union emission rules.
Tesla has made over US$1 billion in the last three years by selling emissions credits in the United States, according to its annual report to the U.S. Securities and Exchange Commission. Regulations allow a manufacturer of zero-emission vehicles to earn credits and sell excess credits to other manufacturers.
FCA formed an open pool with Tesla on Feb. 25, the FT said, citing a declaration with the European Commission.
Source: Energy Industry News (energyindustrynews.net)
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