VW China venture buys green credits from Tesla to meet local rules

Blog By : Adil Kharmiz

Deal highlights scale of challenge facing carmaker as it moves into electric vehicle production

A Volkswagen joint venture in China is buying green car credits from Tesla to help stay within local environmental rules, according to a Reuters report.

The deal, the first of its kind to be reported between the two companies in China, highlights the scale of the task VW faces to transform its huge petrol carmaking business into an electric vehicles specialist to rival Tesla. The deal was confirmed by three sources.

Continue reading...By: Adil Kharmiz