Volkswagen buys CO2 credits in Tesla in China
After Europe, China: Volkswagen will buy CO2 credits to Tesla via its Chinese joint venture.The German giant will thus be able to have a lever for reducing its easy discharges, while waiting ...
25/06/2022
After Europe, China: Volkswagen will buy CO2 credits to Tesla via its Chinese joint venture.The German giant will thus be able to have a lever for reducing its easy discharges, while waiting for the electric transition to be done on all the ranges.
It is a perfectly legal game that allows certain manufacturers to earn money, and others to enter the nails.Public authorities indeed set CO2 limits by automotive group: some easily manage to respect them, while manufacturers such as Volkswagen must wait for the "electric sauce" to take before changing the curve.To avoid fines, Volkswagen, like others, can buy CO2 credits unused by brands that only sell electric cars, such as Tesla.
Reuters announces that the first deal of its kind in China was concluded between Faw-Volkswagen and Tesla for the repurchase of CO2 credits.In the world's leading automotive market with the United States, the government has set up a bonus system for brands that promote zero emission vehicles.And this is added to the impossibility of registering thermal vehicles in most large cities, except to go through a lottery or auction system.
Credits are in any case a juicy market for Tesla, since they represented more than a billion and a half dollars in turnover in 2020.