On Thursday, local time, a U.S. appeals court rejected a request from Tesla to reinstate higher economic penalties on automakers who failed to meet U.S. fuel economy standards.
Tesla Model 3
In April last year, the U.S. Court of Appeals for the Second Circuit rejected Tesla's request, but Tesla did not give up, and submitted the request to the court again in August last year, hoping to continue to promote the implementation of the plan. NHTSA issued a notice on August 18 last year saying that it may impose higher penalties on automakers whose models do not meet emission standards, but the notice has been strongly opposed by many car companies, which believe that once the plan is finally passed, it will cause them nearly $1 billion a year in losses, but Tesla has expressed strong support for the proposal
Tesla's repeated requests to the court to approve the proposal are because former President Trump has changed the rules, resulting in a reduction in the value of carbon credits. As a new energy vehicle company, Tesla holds a large number of carbon points every year, and the 2020 financial report shows that Tesla sells carbon credits to traditional car companies. Earning a profit of $1.58 billion, and its entire 2020 electric vehicle sales profit is only $721 million, the former is 2.2 times the latter, it can be said that the sale of carbon credits has become Tesla's largest source of profits, and the reduction in the value of carbon credits has had an important impact on its profits, which may be the main reason why Tesla is so concerned about fuel vehicle emissions as an electric vehicle manufacturer.
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