Stellantis to buy CO2 credits from Tesla 'pool' also in 2025, exec says
TURIN, Italy, March 29 (Reuters) - Stellantis will buy credits from a "pool" led by Tesla (TSLA.O), opens new tab also in 2025, to meet European Union's CO2 reduction requirements, despite Brussels giving carmakers three years to comply, the group's Europe head said on Saturday.
Carmakers facing tougher EU emissions rules this year agreed to pool their emissions and avoid hefty fines by having firms with lower electric vehicle (EV) sales buy carbon credits from segment leaders including Tesla and Polestar.
Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here.
Stellantis, Europe's second largest carmaker, entered a pool led by Tesla, which also includes other competitors.
However, earlier this month the European Commission yielded to pressure from European manufacturers and allowed compliance based on a carmaker's average emissions over the 2025-2027 period, rather than just on 2025 as initially envisaged.
Asked whether Stellantis planned to use credits bought from Tesla this year, the group's head of European operations Jean-Philippe Imparato said: "I'll use everything".
Imparato spoke at an automotive event in Turin, where it said Stellantis' current EV mix on its European sales was at 14%, compared to a 21% target set by the EU.
The 2027 extension "gives us some breathing space, but does not provide a solution," he said.
Imparato added production on the new hybrid version of the Fiat 500 city car would start at Stellantis Mirafiori complex in Turin in November, with an annual targeted output for the car, both in its hybrid and EV versions, of 130,000 units.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Auto Blog
2 hours ago
- Auto Blog
Tesla Just Bucked An EV Trend In Europe, And It's A Huge Problem For The Company
Tesla will use its Model Y as a launching platform for its robotaxi tech Sales of EVs are up in Europe, but Tesla's numbers are dropping fast Sales of EVs are up in Europe, but Tesla's numbers are dropping fast Tesla's reputation has taken a significant hit since January, when CEO Elon Musk created the DOGE task force, billed as a means to decrease spending across the United States government. In doing so, Musk damaged his standing with the public, which has carried over to Tesla. New data shows that Tesla's reputational hit is not limited to the United States, as sales in Europe are down for Tesla amid a surging electric vehicle market. 2025 Ford Maverick: 4 reasons to love it, 2 reasons to think twice Watch More According to the European Automobile Manufacturers' Association, sales of battery electric vehicles across the European Union (EU) increased by 26.4 percent in 2025 compared to 2024, year-to-date. Tesla registrations in the EU have declined by 46.1 percent through April 2025, with a 52.6 percent year-over-year decrease in April alone. Tesla store in Austin, Texas — Source: Tesla Tesla by the numbers For 2025 (January through April; all figures are year-over-year comparisons), Tesla has sold 41,677 units. In the same period in 2024, Tesla registrations (sales) were 77,314 units. If this downward trend continues, Tesla will be one of the five worst-selling brands in the EU by mid-2025. In April alone, Tesla only sold 5,475 vehicles in the EU. Though the European Automobile Manufacturers' Association didn't break out its data by month, it's easy to conclude Tesla sales have been in decline since the beginning of the year. If April were a 'normal' month, Tesla would have sold about 22,000 vehicles in the EU. Expanding the scope doesn't help much. In the EU, the UK, and across the European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, Norway, and Switzerland, Tesla sold 61,320 vehicles compared to 100,255 in the same timeframe in 2024, representing a 38.8 percent decline. In April, Tesla sold 7,261 vehicles, down from 14,228 last year, signaling a 49 percent drop. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. EV sales in the EU are up Battery-electric vehicle sales in the EU from January through April 2025 are up 26.4 percent, which is the same percentage decline for ICE vehicles, suggesting that Europe is embracing the concept of replacing combustion engine vehicles with EVs. France and Estonia were the only countries to experience a decline in EV registrations year over year. EVs account for only 15.3 percent of the market in the EU, trailing behind petrol vehicles (28.6 percent) and hybrids (35.3 percent). Though total car sales dipped 1.2 percent year to date, EV sales were up 3.3 percent. Diesel and petrol sales have dropped over ten percent year over year. Tesla Model 3 Performance — Source: Tesla Final thoughts As Elon Musk quietly slips away from his work in government, the damage done to Tesla may be irreversible. Less than ten percent of overall Tesla sales occurred in one out of four months in 2025, which is an indicator that Tesla is a brand non grata in Europe and sales are declining sharply every month. Upstart Chinese automaker BYD, a brand some consider Tesla's main existential threat, outsold Tesla in the EU in April by about 60 cars, according to data from analyst firm JATO. BYD doesn't have a vehicle in the top 10, according to JATO, but both of Tesla's main vehicles – the Model Y and Model 3 – saw sales decline 49 percent and 41 percent, respectively. About the Author Nate Swanner View Profile
STV News
8 hours ago
- STV News
Trump says Elon Musk could face ‘serious consequences' if he backs Democrats
US President Donald Trump said he has no desire to repair his relationship with Elon Musk, and warned that his former ally and campaign benefactor could face 'serious consequences' if he tries to help Democrats in upcoming elections. Trump told NBC's Kristen Welker in a phone interview that he has no plans to make up with tech entrepreneur Mr Musk. Asked specifically if he thought his relationship with the mega-billionaire chief executive of Tesla and SpaceX was over, Mr Trump responded: 'I would assume so, yeah.' 'I'm too busy doing other things,' Trump continued. Alarming — Elon Musk (@elonmusk) June 7, 2025 'You know, I won an election in a landslide. I gave him (Mr Musk) a lot of breaks, long before this happened, I gave him breaks in my first administration, and saved his life in my first administration, I have no intention of speaking to him.' The US President also issued a warning amid speculation that Musk could back Democratic legislators and candidates in the 2026 mid-term elections. 'If he does, he'll have to pay the consequences for that,' Trump told NBC, though he declined to share what those consequences would be. Mr Musk's businesses have many lucrative federal contracts. The US President's latest comments suggest Musk is moving from close ally to a potential new target for Trump, who has aggressively wielded the powers of his office to crack down on critics and punish perceived enemies. As a major government contractor, Mr Musk's businesses could be particularly vulnerable to retribution. Trump has already threatened to cut Mr Musk's contracts, calling it an easy way to save money. The dramatic rupture between the President and the world's richest man began this week with Musk's public criticism of Trump's 'big beautiful bill' pending on Capitol Hill. Musk has warned that the bill will increase the federal deficit and called it a 'disgusting abomination'. Trump criticised Musk in the Oval Office, and before long, he and Musk began trading bitterly personal attacks on social media, sending the White House and Republican congressional leaders scrambling to assess the fallout. As the back-and-forth intensified, Musk suggested Trump should be impeached and claimed without evidence that the government was concealing information about the President's association with infamous paedophile Jeffrey Epstein. PA Media Mr Trump's spending plans appeared to cause the rift initially (AP). Musk appeared by Saturday morning to have deleted his posts about Epstein. In an interview, US vice president JD Vance tried to downplay the feud. He said Mr Musk was making a 'huge mistake' going after Mr Trump, but called him an 'emotional guy' who was becoming frustrated. 'I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear,' Vance said. Vance called Musk an 'incredible entrepreneur,' and said that Musk's Department of Government Efficiency (DOGE), which sought to cut US government spending and laid off or pushed out thousands of workers, was 'really good'. Vance made the comments in an interview with 'manosphere' comedian Theo Von, who last month joked about snorting drugs off a mixed-race baby and the sexuality of men in the US Navy when he opened for Trump at a military base in Qatar. The Vance interview was taped on Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration has not released all the records related to Epstein because Trump is mentioned in them. Vice President Vance on what it's like to be Trump's VP: 'It is my job, obviously, to provide the President honest counsel…he talks to everybody. I think it's why he's in touch with normal people.' — Vice President JD Vance (@VP) June 7, 2025 Vance responded to that, saying: 'Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein.' 'This stuff is just not helpful,' Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. 'It's totally insane. The President is doing a good job.' Vance also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. The bill would slash spending and taxes but also leave some 10.9 million more people without health insurance and spike deficits by 2.4 trillion dollars (£1.77trn) over the decade, according to the nonpartisan Congressional Budget Office. 'It's a good bill,' Vance said. 'It's not a perfect bill.' Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
Auto Blog
11 hours ago
- Auto Blog
Alfa Romeo Teases Mysterious Reveal: Here's What We Expect
The Italian marque has posted a cryptic teaser, signaling something huge is coming. Alfa Romeo Announces Bold New Chapter Alfa Romeo, like Maserati, isn't in a good place right now. The Stellantis-led marque is in dire need of a turnaround plan with the world's fifth-largest automaker confirming that a major strategy review is in the pipeline for the Italian marques, spearheaded by a new CEO. Wasting no time putting that plan into action, Alfa Romeo has announced a big reveal is set to take place on June 10, 2025, at 4:30 PM CEST (10:30 AM EDT) with the following post shared on it social media accounts: 'A new chapter is about to begin. Bold, unexpected, unmistakably Alfa Romeo.' So, what is the premium Italian brand cooking? Oops! We're unable to load this content right now. View directly on Facebook Next-Generation Stelvio Likely It's no secret that Alfa Romeo is working on the next-generation Stelvio, its best-selling model. Despite being hit by an issue concerning the switch to a hybrid powertrain, the timing's just right. The eight-year-old Stelvio is aging, and the automaker needs to entice fans with a new model. The next-gen Stelvio will use Stellantis' STLA Large platform, which underpins the unpopular Dodge Charger Daytona EV – an architecture flexible enough to cater to both pure EV and hybrid setups. The switch from the previous all-electric powertrain plan to hybrid isn't as easy as flicking a switch, though. That said, we don't expect any powertrain details if this is indeed the new Stelvio, only a look at its new design, which was recently shared via the following patent images. But if it's not a new model, then what else could the teaser be referring to? Autodelta Triangle Teaser Sparks Motorsport Speculation As you can see in the single teaser provided, the imagery shows the Alfa Romeo badge with a glowing red equilateral triangle. Alfanatics will recognize the triangle from Autodelta, Alfa Romeo's historic racing division. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Could Alfa Romeo be about to announce a return to motorsport? Or could it be ready to launch a performance model that harkens to classic Alfas that Autodelta worked on. Whatever Alfa Romeo's planning, we only have a couple of days to find out. So stay tuned. About the Author Jacob Oliva View Profile
