China Auto Daily | Tesla Poised to Earn Over €1 Billion in Europe by Selling Carbon Emission Credits

Tesla Poised to Earn Over €1 Billion in Europe by Selling Carbon Emission Credits

To comply with the European Union's increasingly stringent carbon emission standards, several major global automakers are planning to form a "super alliance" with Tesla. Thegoal is to share carbon emission credits to avoid hefty fines. Under the agreement, automakers with lower electric vehicle sales will purchase Tesla's carbon emission credits to reduce their fleet's average emissions. According to a report from Bloomberg, UBS analyst Patrick Hummel estimates that if Tesla were to monetize its surplus carbon credits, its revenue in the European market alone could exceed €1 billion.

SAIC Group Launches Internal Recruitment for Strategic Reshuffle Ahead of Huawei Partnership

Industry news report that SAIC Group's "Passenger Vehicle Division" has launched an internal recruitment initiative as part of a restructuring effort, which is expected to be completed by the end of the first quarter. Several insiders reveal that the adjustment isaimed at preparing for the collaboration with Huawei. Over 40 Huawei employees have already joined SAIC, and plans are underway to incorporate Huawei's complete solution into the upcoming fully electric SUV, code-named ES37, under the Feifan Motors brand. Just one day before the recruitment launch, senior executives from SAIC and Huawei held further discussions on the partnership, exploring new cooperation models, including potential investment collaboration.

GAC Group to Provide Special Loans for Employee Compensation and After-Sales Service with Cofco Automotive

On January 10, GAC Group announced that it will provide shareholder loans in proportion to its shareholding to Cofco Automotive Technology Co., Ltd., a company in which it holds stakes. The loans are designated for paying employee salaries and economic compensation. Additionally, GAC Aion will take on the responsibility of handling after-salesservices for Cofco Automotive products. Specifically, GAC Group stated that, in order to fulfill its social responsibility to employees and consumers, it has agreed with Cofco's shareholders to provide loans in proportion to its 25% stake (approximately 23.8 million yuan, subject to actual amounts). Furthermore, GAC Group has agreed that GAC Aion will be entrusted to manage after sales services for Cofco Automotive products. Based on a 10-year after-sales service period, the shareholders of Cofco Automotive will provide up to 174 million yuan in loans, proportionate to their respective shareholdings, specifically for after-sales service purposes.