Fiat Chrysler to pay Tesla to pool Carbon dioxide emissions, paper says

'Fiat to pool with Tesla to avoid EU fines'

'Fiat to pool with Tesla to avoid EU fines'

Fiat Chrysler Automobiles NV is pooling its fleet with Tesla Inc.to comply with stricter European Union rules on carbon dioxide emissions in a deal that is likely to pay the US electric-car leader hundreds of millions of dollars.

FCA joined Tesla's so-called open pool on February 25, and according to a senior director at the Transport & Environment lobbying group the partnership will be valid for "several years".

Pooling auto fleets to avoid sanctions is quite common but often happens within manufacturing groups.

Meanwhile, Tesla was reported to have made over $1 billion in the past three years by the sale of emissions credits to other automotive manufacturers in the U.S.

There is no indication of the specific amount that FCA has agreed to pay Tesla.

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If the average Carbon dioxide emissions of a carmaker's fleet exceed that target, it then has to pay an excess emissions premium for each vehicle registered starting from €5 for the first g/km of exceedance to €25 for the third g/km and €95 for each subsequent g/km.

Emissions pooling is allowed under European Union rules, if manufacturers follow the correct application procedure. In 2018, FCA's average was 123 grams, or about 2.5 grams above the industry average.

Tesla and Fiat Chrysler did not immediately respond to a request by Reuters for comment on Sunday.

Tesla earned $103 million in 2018 from selling the credits and another $279 million in 2017, according to the company's quarterly 10-Q filings with the SEC. It added: "FCA is committed to reducing the emissions of all our products. The purchase pool is providing flexibility for delivering products that FCA's customers are willing to purchase while managing compliance using the lowest cost approach", said an FCA spokesperson in a statement (source).

Other vehicle companies teaming up for the sake of regulations include Mazda Motor Corp and Toyota Motor Corp.

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