For a report on Tesla's sale of the CA tax credits--to the tune of 250m. Sometimes, carbon credits are a forgotten piece of the equation. As you can see it should not be--these environmental credits can be a very significant part of the financial picture.
Telsa has put up great numbers and news over the past week. We would not be surprised if Tesla, on its own, gave the Feds a ROI on their invested money in green, even factoring in the loss seed money put into Solyndra and others. We hope you are starting to consider Tesla on the electric side and, if not electric, at least hybrids for your new car:
Tesla Motors is expected to release quarterly earnings figures within the next few days, and the Silicon Valley automaker is thought to have attained profitability for the first time ever. As it turns out, a good bit of that profit will reportedly come from the State of California.
According to an article from the LA Times, Tesla, which is reportedly on pace to sell 20,000 vehicles in 2013, receives as much as $35,000 in environmental credits from California for each Model S it sells. These credits can then be sold to other automakers that do business in the state but don't sell zero-emission vehicles of their own. Some experts believe Tesla could earn up to $250 million from such ZEV credits.
While profits from ZEV credits equals good news for Tesla, some experts and rival automakers aren't very pleased with California's strong-arm tactics when it comes to the sales of electric vehicles. "At the end of the day, other carmakers are subsidizing Tesla," said Thilo Koslowski, an analyst at Gartner Inc.
Mary Nichols, chairwoman of the California Air Resources Board, counters by saying, "We are in the air pollution business, not the car business... There is some jealously of Tesla going on here." Check out the entire article from the LA Times here, it's an interesting look into the inner-workings of the business side of the eco-friendly automotive marketplace.