Mandates and future specifications have created a new industry among automakers. A market that is not about trading vehicles, but it is of getting and selling credits to meet legal needs.
Zero-emission vehicles mandate
All zero-emission automobiles (ZEVs) use clean energy to power themselves, such as electricity or non-polluting hydrogen drivetrains. Six of the largest car manufacturers in California now have to sell a certain amount of ZEVs to stay away from penalty, but car manufacturers with additional credits can sell them to others in one option.
The ZEV program demands that automakers sell 20,000 or more units a year in California. The idea is to make sure that by 2025, 15 percent or more of their vehicles that are sold are non-polluting. Dave Clegern is a California Air Resources Board spokesman. He said:
"This is a way to address California's unique air-quality issues and reduce greenhouse-gas emissions. We think there'll be growing demand for the vehicles and it's a framework to get them to customers."
See other states do it
California is not the only state with ZEV requirements. In fact, eleven other states now have that requirement. The automaker can get fines depending on the cars sold if the brand new standard of having 60,000 ZEV's before 2014 is not met. That should be 1.4 million automobiles by 2025.
A ton of credits
The best-selling EV in the country is the Nissan Leaf EV, which is why Nissan Motors has gotten a ton of additional credits in the last two years.
Nissan's executive vice president, Andy Palmer, said Tues:
"We are in a fortunate position of having positive credit, so that's obviously something we are able to look at. We are exploring some plans, but we haven't announced anything yet."
Does not need all credits
It is not necessary for automakers to expose how much they sold credits for or how many were sold, but Tesla Motors showed last year that it earned $13 million for the sale of clean-air credits between all automakers they were sold to. These credits were sold as excess to Honda and other unnamed car makers in June 2010, according to Tesla motors' Elon Musk. The number of credits sold and prices of them were not announced.
As of 2012, the new issued credits do not expire or degrade. Automakers who earned credits from 2009 to 2011 are likely to sell though as the value decreases over time for them.
Zero-emission vehicles mandate
All zero-emission automobiles (ZEVs) use clean energy to power themselves, such as electricity or non-polluting hydrogen drivetrains. Six of the largest car manufacturers in California now have to sell a certain amount of ZEVs to stay away from penalty, but car manufacturers with additional credits can sell them to others in one option.
The ZEV program demands that automakers sell 20,000 or more units a year in California. The idea is to make sure that by 2025, 15 percent or more of their vehicles that are sold are non-polluting. Dave Clegern is a California Air Resources Board spokesman. He said:
"This is a way to address California's unique air-quality issues and reduce greenhouse-gas emissions. We think there'll be growing demand for the vehicles and it's a framework to get them to customers."
See other states do it
California is not the only state with ZEV requirements. In fact, eleven other states now have that requirement. The automaker can get fines depending on the cars sold if the brand new standard of having 60,000 ZEV's before 2014 is not met. That should be 1.4 million automobiles by 2025.
A ton of credits
The best-selling EV in the country is the Nissan Leaf EV, which is why Nissan Motors has gotten a ton of additional credits in the last two years.
Nissan's executive vice president, Andy Palmer, said Tues:
"We are in a fortunate position of having positive credit, so that's obviously something we are able to look at. We are exploring some plans, but we haven't announced anything yet."
Does not need all credits
It is not necessary for automakers to expose how much they sold credits for or how many were sold, but Tesla Motors showed last year that it earned $13 million for the sale of clean-air credits between all automakers they were sold to. These credits were sold as excess to Honda and other unnamed car makers in June 2010, according to Tesla motors' Elon Musk. The number of credits sold and prices of them were not announced.
As of 2012, the new issued credits do not expire or degrade. Automakers who earned credits from 2009 to 2011 are likely to sell though as the value decreases over time for them.
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