Friday, April 19, 2024

Tesla made 12 billion last year – but not on cars

Tesla shoveled in money last year. A good part of the money came from competitors who had no other choice.

1.8 billion dollars or 12 billion Danish kroner.

That's what Tesla sold its CO2 allowances to other car brands for last year. The CO2 quotas must be used by the car brands that still build cars with internal combustion engines in order not to get stuck with the EU system.

There are hefty stalls if their production exceeds a number of set emission requirements.

That's what Automotive News writes.

READ ALSO: Used Tesla 'wrongly' – it cost him over 135,000 kroner

A punishment that Tesla can completely avoid, because the brand exclusively builds electric cars. But you still have the quotas – and they are a great business to sell off.

Overall, since 2009, Tesla has earned no less than 12 billion dollars, equivalent to 62 billion Danish kroner, from selling CO2 allowances to its competitors.

If the car manufacturers exceed the quota, there will be stalls at 95 euros – just under 710 Danish kroner – per grams that are exceeded by. The number is then multiplied by the number of cars sold in the EU.

The stalls can therefore be reasonably hefty. Both the Chinese and the US state of California have implemented a similar sanctions regime against car manufacturers.

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