Tesla could boost revenue by helping Jaguar Land Rover with emissions pact
US electric vehicle giant Tesla could likely boost revenue at the end of the year by helping Jaguar Land Rover (JLR) meet greenhouse gas emission rules set by the European Union. The electric vehicle maker is looking to pool its all-electric vehicle fleet it sells in the EU with JLR vehicles.
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With this emissions deal with Tesla, JLR will join Honda, which entered into an emissions pooling deal with Tesla about a year ago. The British carmaker had set aside 35million pounds ($ 48million) in fines for breaching EU rules last year and had previously said it expected to meet its target of carbon dioxide emissions this year. However, that seems unlikely and the automaker could therefore merge with Tesla.
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Tesla has generated billions of rupees in revenue helping other automakers comply with stricter EU emissions regulations, with total revenue estimated at $ 1.15 billion in the first nine month of this year. However, the automaker does not specify how much of the revenue comes from which particular manufacturer or even give a regional breakdown.
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The revenue Tesla earns from the sale of regulatory credits goes to other automakers goes directly to the company’s bottom line and was used as a deciding factor in determining whether the company was profitable based on generally accepted accounting principles. recognized. However, over the past two quarters, the company’s earnings would have been positive on a GAAP basis even without credit income.
In May, Stellantis NV, the automaker formed by the merger of the PSA Group and Fiat Chrysler, announced that it was withdrawing from the EU’s emissions pool deal with Tesla.
(with contributions from Bloomberg)