Hyperdrive
Fiat Flags a $2 Billion Credit Bill That Will Be a Boon to Tesla
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Fiat Chrysler Automobiles NV entered into various agreements in the first quarter to secure emissions-related regulatory credits that will cost the company 1.8 billion euros ($2 billion) over the next three years.
Chief Financial Officer Richard Palmer didn’t identify any of the companies Fiat Chrysler is buying credits from during the company’s first-quarter earnings call Friday. The Italian-American automaker said last month it had reached a deal to pool its fleet with Tesla Inc.’s to comply with stricter European Union rules on carbon-dioxide emissions.