Volkswagen To Subsidise Tesla’s China Operation By Purchasing Green Credits
A new report coming out of China states Volkswagen and its state-owned Chinese partner FAW have agreed to purchase green credits from Tesla.
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According to a report by Reuters citing unnamed sources in China, Volkswagen has signed a deal with Tesla to purchase green credits from the EV maker. According to the deal, Volkswagen and its Chinese partner, state-owned automaker FAW, will pay Tesla 3000 yuan ($450) per green credit.
The total amount for the deal is not yet known however, given Tesla’s similar deals with other OEMs it wouldn’t be surprising if it ends up being in the hundreds of millions or even possibly more than a billion.
Apple And Tesla To Work Together On First Joint Project
Apple, the world s largest tech company, and Tesla, the world s biggest EV maker are going to be working together on a battery project that will be one of the largest in the US.
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Today Apple announced the company will be helping to transition all its suppliers to be carbon neutral by 2030. And the company also announced 110 of its suppliers will be moving their entire energy consumption to build Apple products to clean energy.
Apple says in order to meet this goal 8 gigawatts of clean energy production need to come online. Once completed, these commitments will avoid over 15 million metric tons of CO2 annually the equivalent of taking more than 3.4 million cars off the road each year.
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03/15/2021 08:00 AM EDT
Editor’s Note: Morning Money is a free version of POLITICO Pro Financial Services morning newsletter, which is delivered to our subscribers each morning at 6 a.m. The POLITICO Pro platform combines the news you need with tools you can use to take action on the day’s biggest stories. Act on the news with POLITICO Pro.
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