China's BYD in advanced talks to form pool in Europe over carbon credits (updated)

Subaru

10/02/2025 13:00

(Adds context in paragraphs 5-8)
       TURIN, Feb 10 (Reuters) - Chinese EV giant BYD
 002594.SZ  is in talks to form a pool with European automakers
and sell them carbon credits to help them avoid hefty European
Union fines on 2025 emissions, a BYD representative said on
Monday.
    "We're in talks, we are well underway," BYD's special
adviser for Europe Alfredo Altavilla said during a car
presentation in Italy.
    He did not offer further details.
    Earlier this year automakers announced the creation of two
pools, one with EV maker Tesla  TSLA.O , Stellantis  STLA.MI ,
Toyota  7203.T , Ford  F.N , Mazda  7261.T , Subaru  7270.T ,
and another one between Germany's Mercedes  MBGn.DE , Polestar,
Volvo Cars  VOLCARb.ST  and Smart.
    Companies with lower EV sales can pool their emissions with
EV market leaders, purchasing emissions credits from them to
lower their overall averages and save them hundreds of millions
of euros in EU fines.
        Automakers have to notify the European Commission of
pooling agreements by December 31 of each year.
  
        Brussels can request extra information about the
agreements, but not assess their commercial terms.
  
        Pool participants must not share data or exchange
information other than about average specific emissions of CO2,
specific emissions targets and the total number of vehicles
registered.
  
    
    

 (Reporting by Giulio Piovaccari, editing by Alvise Armellini
and Louise Heavens)
 ((giulio.piovaccari@thomsonreuters.com))