The European Commission's plan to relax CO2 emission regulations for new cars this year has cast uncertainty over a potential agreement between Toyota Motor (TYO:7203) and Tesla, Bloomberg News reported Thursday, citing a company official.
Toyota intended to pool its vehicle fleet in the EU with Tesla, which easily meets emission standards by selling only electric vehicles, the report said.
Tesla has previously earned billions by helping other automakers comply with emission regulations, according to the news outlet.
With the EU planning to average tougher emissions targets over three years, Toyota and other carmakers might need less assistance from Tesla than initially thought, said Bloomberg News.
Matt Harrison of Toyota Motor Europe noted that withdrawing from the pooling agreement could result in potential liabilities for both carmakers, depending on credit outcomes.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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