The European green credit system earns Tesla 1.5 billion

The European green credit system earns Tesla 1.5 billion

Among the companies that pay pollution compensation credits to the California electric vehicle company are Fiat Chrysler, General Motors and Honda

Elon Musk, Tesla owner (photo: Getty) A payment system to compensate polluting emissions among car companies allowed Tesla to generate $ 1.58 billion in revenues from the sale of "green credits" in 2020. To make up the nest egg there is also a share paid by Fiat Chrysler, now Stellantis, which for this form of regulatory credit paid in Europe 300 million euros (362 million dollars) in total in 2020. Most of the money went to Tesla and this year, Stellantis reported in a recent call on the results financial reports reported by Cnbc, FCA will have to pay just under another 300 million euros in credits. The total sum of the agreement signed between the two companies in 2019 to allow Fiat Chrysler to comply with the pollution limits imposed by the European Commission would be 2.2 billion dollars (1.8 billion euros), according to what has already been anticipated. at the time from the Financial Times.

In the past, Credit Suisse had already tried to estimate the amount raised with this mechanism by Tesla in 2020 and had stood at a valuation of 1.4 billion dollars. Close to the final goal. This channel contributed to the company's $ 721 million profit in 2020, which for the first time closed an annual balance sheet in profit. According to the Swiss institute, the revenues from the regulatory credits collected by Tesla could rise this year to 2 billion dollars. In addition to Fiat Chrysler, General Motors and Honda also pay a donation for greenhouse gases to the company founded by Elon Musk.

The same Carlo Tavares, CEO of Stellantis, has declared that FCA will have no further compliance problems in this regard, after the agreement with Tesla has expired. Meanwhile, according to analysts, growth in regulatory credit revenue was a major factor in the profit streak that allowed the company to be chosen for the S&P 500. "This is an area that is always difficult for us to predict." Tesla chief financial officer Zahcary Kirkhorn admitted in a recent call on fourth quarter financial results: “Regulatory credit sales have exceeded our expectations for 2020 and it is difficult to provide guidance: in the long term they will not be a material part of the business and we do not build projects on it. It is possible that it will remain a strong component for a handful of quarters, but it is also possible not ”.

Medicine - 5 minutes ago

How the export of anti-vaccines works in Europe -Covid

adsJSCode ("nativeADV1", [[2,1]], "true", "1"); Engines - 2 hours ago

New Hyundai Tucson: the full hybrid test

adsJSCode ("nativeADV2", [[2,1]], "true", "2"); Politics - 20 hours ago

Italy has blocked 250 thousand doses of the AstraZeneca vaccine on its way to Australia


Cars Elon Musk Europe pollution Tesla globalData.fldTopic = "Cars, Elon Musk, Europe, pollution, Tesla"

You May Also Interest

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

Powered by Blogger.