Published: Wed, April 10, 2019
Money | By Ralph Mccoy

SHAME On WHO? Fiat Pays Tesla To Avoid EU Carbon Emissions Fines

SHAME On WHO? Fiat Pays Tesla To Avoid EU Carbon Emissions Fines

Fiat Chrysler Automobiles and Tesla have reportedly engaged in what is referred to as an "Open Pool" which allows for Tesla's Electric Vehicles to be listed as part of the FCA's fleet of vehicles. FCA's average emissions in 2018 was 123 grams per kilometer, well above the target.

In January, Fiat Chrysler agreed to an $800 million settlement to resolve claims by the U.S. Justice Department and the state of California that it used illegal software to produce false results on diesel-emissions tests.

According to the FT, the FCA/Tesla open pool was formed on February 25.

The exact amount of the payment has not been revealed, but is is hundreds said to be hundreds of millions.

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The loss-making American manufacturer of luxury electric vehicles will be paid hundreds of millions by the Italian group to avoid large European Union fines for breaking environmental regulations.

Fiat is readying some electrified vehicles, including an upcoming plug-in hybrid Jeep and showing a battery-powered Fiat Centoventi prototype last month at the Geneva auto show. But analysts have said that is likely not enough to avoid billions of euros in fines for exceeding the EU's target, which is 95 grams of Carbon dioxide per kilometer average across a carmaker's whole fleet.

This will also give FCA the time to catch-up to its competitors going all-out for EVs without having to take radical steps to reduce emissions while it does so.

In a statement, Fiat Chrysler said that the company "is committed to reducing emissions of all our products". The company has made more than $1-billion since 2016 by selling its emissions credits, which also allows it to post quarterly profits. According to The Financial Times, Tesla sold $103.4 million ($145.3 million) credits in 2018 and $279.7 million ($393 million) in 2017. The electric automaker earned $103.4m a year ago by selling zero emissions vehicle credits under a programme operated in its home state of California.

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