Fiat Chrysler to pay Tesla hundreds of millions of euros to pool fleet: Financial Times - Investing.com

© Reuters. Fiat Chrysler Automobiles (FCA) headquarters are seen in Turin

(Reuters) - Italian carmaker Fiat Chrysler Automobiles NV (FCA) has agreed to pay electric carmaker Tesla (NASDAQ:) Inc hundreds of millions of euros so that the vehicles of Tesla are counted in its fleet to avoid fines for violating new European Union emission rules, the Financial Times reported on Sunday.

The step will let the Italian carmaker offset carbon dioxide emissions from its cars against Tesla's, by bringing down its average figure to a permissible level, the FT said.

The report did not mention further financial details of the specific amount that Fiat Chrysler has agreed to pay Tesla.

The Italian carmaker formed an open pool with Tesla on Feb. 25, the report added, citing a declaration with the European Commission.

Tesla did not immediately respond to a request for comment on Sunday. Fiat Chrysler did not directly address the amount that it would pay but added it would "optimize the options for compliance that the regulations offer."

"FCA is committed to reducing the emissions of all our products...The purchase pool provides flexibility to deliver products our customers are willing to buy while managing compliance with the lowest cost approach," FCA added in a statement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Let's block ads! (Why?)

https://www.investing.com/news/stock-market-news/fiat-chrysler-to-pay-tesla-hundreds-of-millions-of-euros-to-pool-fleet-ft-1829342

2019-04-07 10:14:00Z
CBMiggFodHRwczovL3d3dy5pbnZlc3RpbmcuY29tL25ld3Mvc3RvY2stbWFya2V0LW5ld3MvZmlhdC1jaHJ5c2xlci10by1wYXktdGVzbGEtaHVuZHJlZHMtb2YtbWlsbGlvbnMtb2YtZXVyb3MtdG8tcG9vbC1mbGVldC1mdC0xODI5MzQy0gEA