Tesla Motors Inc., which had its first profitable quarter last year aided by sales of California environmental credits, is to receive fewer for each Model S sold as the state modifies its zero-emission vehicle program.
The Palo Alto, California-based carmaker, which sold ZEV credits worth $129.8 million last year to other automakers, will initially qualify for only four credits per car sold in California and states that follow its rules. That’s down from seven per Model S through 2013, according to California’s Air Resources Board, which posted the changes April 3.
