Volkswagen will buy environmental quotas from Tesla in China

Volkswagen will buy environmental quotas from Tesla in China

April 2, 2021 0 By autotimesnews

Green loans for electric cars were required by the German automaker to meet environmental standards in China.

The fact that the joint venture FAW-Volkswagen in China wants to buy out “green loans” for battery cars from its main competitor Tesla, Reuters reports. Moreover, the international news agency refers at once to three sources familiar with the situation.

This deal once again confirms that the Germans have seriously approached the idea of ​​becoming leaders in the electric car market. Investors support this desire: the automaker’s shares managed to rise sharply in price.

At the same time, Volkswagen models with traditional motors still dominate in the Chinese and other regional markets. China has a system of “green loans” – an incentive for automakers to produce more environmentally friendly cars.

Electric car companies are doing their best here: they can sell their quotas to those with environmental issues.

The same Tesla makes good money on such deals. We are talking about hundreds of millions of dollars. The parties did not comment on the information on the possible deal. How many “green loans” the Germans want to buy is not reported.

One loan is estimated at 3 thousand yuan (this is higher than the previous price tags). Volkswagen plans to release five electric cars of the ID family this year at its production facilities in China.