FCA purchased 8.2 million emissions credits from Tesla, Honda, Toyota and Nissan
FCA has purchased emissions credits from Tesla, Toyota and Honda, says a new report by the Environmental Protection Agency.
The EPA allows automakers who exceed emissions standards to earn a surplus of credits, measured in megagrams of emissions (each megagram is equal to 1000 kilograms). Automakers who cannot meet the standards, or who want to pad their future allowances, can purchase them on an exchange similar to that of the stock market.
A report by Automotive News reveals that Fiat Chrysler purchased approximately 8.2 million megagrams of credits for 2014. The purchases came in two spurts. In the first, 1.7 million was bought from Tesla, nissan and Honda. By the end of the year, FCA had purchased 6.5 million more, 5.5 million of which came from Toyota and Honda, and another million from Tesla.
As it stands, 100 percent of Tesla’s 2013 and 2014 emissions credits were sold to FCA. The EPA does not reveal how much the credits sold for, but the article states that “Tesla earned $216.3 million in all regulatory credit sales in 2014 and $194.4 million in 2013 but does not breakout transactions.”
Curiously, the report states that FCA would have been compliant even without the purchases.
FCA made news earlier last week when it was ranked dead last in fuel efficiency ratings, averaging 20.8 mpg across its fleet for 2014. Mazda was ranked number one.
Other automakers who purchased a significant number of emissions credits include Mercedes-Benz parent company Daimler (1.4 million) and Ferrari (265,000), which spun off from FCA earlier this year.