Volkswagen has signed contracts to buy back carbon credits in order to meet the brand’s emissions targets. Herbert Diess confirmed this for the American and Chinese markets. In Europe, the German manufacturer is in the nails.
In recent years, Volkswagen has been purchasing carbon credits in all markets to meet various CAFE standards. These rules indeed oblige manufacturers not to exceed a threshold of polluting emissions on their entire fleet.
Thanks to the ramp-up of its electricity sales, the German giant will no longer buy carbon credits in Europe. In contrast, Volkswagen CEO Herbert Diess confirmed that it would be different in the United States and in China.
“In Europe, we are confident of meeting the fleet objectives”, said Diess. He ensures that these purchases of carbon credits will be reduced as VW deploys its electrification strategy. “They’re declining with the acceleration of our electric car strategy and they should be at zero in two or three years. “
The manufacturer did not give the identity of its partners, simply specifying that they were several “minor” contracts. Volkswagen has a joint venture in China with FAW, and Tesla has already formed an alliance with it. Diess has neither confirmed nor denied these rumors, while Tesla is no longer collaborating with FCA.