Tesla (TSLA) and Honda have confirmed that they are partnering to pool their sales in Europe in order for the latter to avoid emission fines due to its lack of electric vehicles.
Europe has put in place new regulations to reduce fleet emissions from automakers. Each automaker has to sell more electric vehicles in order to get their average emissions down and avoid large fines.
Automakers who are lagging behind with electric vehicles are allowed to pool their sales in Europe with automakers who are already beating their emission requirements in order to avoid those fines.
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