TOKYO -- Global automakers face the risk of 14.5 billion euros ($17.2 billion) in fines from the European Union for failing to meet tougher new emissions standards, a prospect that has sent them racing to buy carbon credits from U.S. electric vehicle maker Tesla.
Automobiles
In struggle to meet EU rule, automakers turn to Tesla for credits
$17bn in fines await if emissions standards are not met by 2021
A Tesla car is charged at a Tesla dealership in Salt Lake City. © Reuters
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