Looks like Tesla has sold Fiat and General Motors greenhouse gas loans. Why is this at all?

GM and Fiat Chrysler reported that they purchasedfederal greenhouse gas credits from Tesla, according to applications filed in the state of Delaware and reviewed by Bloomberg. The fact is that both the US federal government and California offer loans to automakers to sell cars with zero levels of greenhouse gas emissions, that is, carbon or other products of combustion. These automakers can then sell their loans to other automakers that exceed the pollution quota.

Thus, a kind of system is bornrestrictions and trade, which imposes additional costs on automakers who do not want to change the fuel of their cars, and gives advantages to other, more environmentally friendly.

Tesla sells "greenhouse loans"

Tesla is not the first year reports on the sale of itsloans, but buyers, as a rule, remained unnamed. It was only in April that the Financial Times discovered a deal between Fiat Chrysler and Tesla, which, according to rumors, cost hundreds of millions of euros. According to FT, Tesla allowed Fiat to combine its European fleet with Tesla in order to comply with strict EU legislation on averaged emissions. Literally speaking, Tesla cars produce zero emissions, and Fiat - large, but on average they produce something in between.

Given this news, it is not surprising that FiatChrysler buys US federal fuel economy loans from Tesla to comply with even stricter emissions laws in the United States. Surprisingly, General Motors is rumored to also buy Tesla loans for compliance. GM is Tesla's biggest competitor in the field of sales of electric vehicles (in the fourth quarter of 2018, the company sold enough electric vehicles to Bolt to initiate a waiver of the federal tax credit for electric vehicles). But in the end, GM sells far more internal combustion engines than electric vehicles.

According to Bloomberg, GM does not currently needstraight so much to buy loans. However, the company does this in order to meet even more stringent emission requirements in the future. Details of the deal between Tesla, GM and Fiat are not published, but we know that Tesla sold "greenhouse loans" for $ 190 million in the 3rd quarter of 2018. Since 2010, the company has earned nearly $ 2 billion in sales of loans complying with the "green" laws.

Read what climate hell we live in.

More news about Tesla and the climate in our Telegraph channel.