Buying Credit: FCA Says It Won't Need to Pay EU's CO2 Fines
Fiat Chrysler Automobiles CEO Mike Manley said the automaker will not have to pay fines for failing to meet the demands of tightening European air quality regulations. But that’s not because the automaker is actually going to adhere to them. FCA has been pretty open in explaining its willingness to simply endure fines or, conversely, buy enough carbon credits to circumvent the issue entirely. And, over the next two years, the latter strategy will be how it copes with the EU’s pollution mandates.
It’s not ignoring efficiency, however. FCA still plans on releasing an improved Fiat 500 BEV while expanding its hybrid offerings via the Jeep brand this year. It’s just easier (and cheaper) to buy credits in advance, knowing the manufacturer will need them.
Colorado, Automakers Shake Hands Ahead of EV Plunge
There’s still two weeks to go before a crucial state regulatory board decision, but Colorado and two groups representing the lion’s share of global automakers have sealed a deal to adopt California’s Zero Emission Vehicle standard.
News of the pact adds weight to Colorado Governor Jared Polis’ decision, in January, to pursue a ZEV initiative, joining 10 other states who’ve signed onto the mandate. If passed into law, consumers will gain plenty of green choice while automakers will be forced to put up or pay up.