Published by Global Banking and Finance Review
Posted on January 7, 2025
MILAN (Reuters) - Stellantis, Toyota, Ford, Mazda and Subaru are planning to pool carbon emissions with U.S. EV maker Tesla to comply with European Union 2025 rules, an EU filing showed on Tuesday.
Volvo, Polestar and Smart are also planning to pool their carbon emissions with Mercedes, the same document showed.
If not met, EU 2025 intermediate carbon reduction targets, or so-called CAFE standards, could cost automakers billions of euros in fines.
A spokesman for Stellantis said the carmaker's participation to the pool would help it meet its EU targets for 2025 "while optimising our resources".
"At the same time, we continue to focus on developing the innovative electric and low-emission technologies that are at the heart of our strategy," the spokesman said.
The other carmakers involved were not immediately reachable for comment.
Stellantis' head of European operations, Jean-Philippe Imparato, last month said that based on EU rules, the group's EV sales in Europe would have to increase from 12% of the current total to 21%, with potential fines of 300 million euros ($312 million) for any missed percentage point.
($1 = 0.9606 euros)
(Reporting by Giulio Piovaccari; additional reporting by Philip Blenkinsop; editing by Giulia Segreti and Jason Neely)
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