Renault poised to sell CO2 credits for profit

Renault is on track to comfortably meet 2020 CO2 targets so looks to profit from the margin.

Renault is on track to meet its CO2 fleet emissions targets for 2020 so is offering other manufacturers the opportunity to join its CO2 pool, according to reports.

Automotive industry researcher Matthias Schmidt has obtained documents from the European Commission that show Renault filing a “declaration of interest to form Open Pools pursuant to Article 6(5) of Regulation (EU) 2019/631 (passenger cars)”.

Simply put, the filing means Renault likely has met its targets by a significant margin and can now sell emissions credits to other manufacturers that wouldn’t otherwise meet their own targets, like Tesla does with Fiat Chrysler Automobiles.

According to the most recent edition of the European Electric Car Report, Renault had the highest amount of electric vehicle (EV) registrations in Western Europe, selling 51,200 throughout August.

Interested parties have until 18 November 2020 to register their interest directly with Renault and demonstrate that their participation won’t cause Renault to exceed its targets or that they can pay the fine for any excess.

Renault had previously planned to share its pool with Alliance partners Mitsubishi and Nissan in line with an agreement outlined early this year, with the three firms being treated as a single entity for the purposes of EU emission targets.

There’s no word yet on why Renault appears to be operating alone, nor on which manufacturers are in line to take advantage of its offer. Schmidt suggests Mercedes-Benz parent company Daimler as a likely candidate, given that it already has a strategic agreement in place with Renault and is on track to miss its CO2 targets for 2020.

It has also been recently reported that MG parent company SAIC has joined Volkswagen’s emissions pool in order to help the German manufacturer meet its targets.

The Chinese firm will remain in the pool until the end of 2022, likely with the intention of its HS plug-in hybrid, ZS EV and 5 EV sales making up for a small shortfall in Wolfsburg’s electrified vehicle sales.

Felix Page

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