Tesla To Help Jaguar Land Rover Meet EU Emissions Criteria
It isn’t just Hertz that could be giving Tesla a bit of a top line revenue bump heading into next year. Tesla could also see a “year end revenue boost” from also helping Jaguar Land Rover meet EU rules governing emissions, according to a new report by Bloomberg.
Tesla is reportedly going to be pooling all of its EVs that it sells in the EU with vehicles from the Tata Motors-owned manufacturer, a new report, citing a filing on the European Commission’s website, says. JLR is following in the footsteps of Honda, who also reached a pooling agreement with Tesla about a year ago, the report says.
JLR had set aside $48 million for fines from failing to meet EU emissions rules last year. This year, it said it expects to meet its targets.
It’ll help continue a longstanding tradition for Tesla of generating billions in revenue from helping other auto manufacturers meet emissions regulations. Tesla’s top line benefitted to the tune of about $1.15 billion in the first nine months of this year from this practice.
Stellantis, who had previously been a part of Tesla’s emissions pool, announced it was exiting the agreement in May of this year. Funds from the pool with Stellantis were being directed toward helping Tesla build its German Gigafactory.
Recall, in the U.S., Tesla just moved its headquarters to Austin, Texas.
CEO Elon Musk stressed that Tesla will continue to expand in both California and Nevada, saying “we will continue to expand our activities in California. This is not a matter of Tesla leaving California. Our intention is to increase output from Freemont and giga-Nevada by 50%.”
Wed, 10/27/2021 – 05:45