One of the more opaque segments of Tesla’s business just became a little more transparent. Recent filings show that GM and Fiat Chrysler have bought zero-emissions vehicle credits from Tesla, Bloomberg reported Monday.
Tesla’s ZEV credit program isn’t a secret. The company has brought in nearly $2 billion in revenue since 2010 when it started selling regulatory credits to automakers that needed to offset sales of polluting vehicles in the U.S. And it’s a revenue stream that has been either lauded or criticized for years now as analysts and the media debate whether this helps or hurts Tesla’s bottom line.
But little was known, until now, about who was doing the buying and why — beyond the assumed reason to offset sales of vehicles that produce tailpipe emissions.