According to a report from the California Air Resources Board (CARB), General Motors was the largest buyer of California zero-emission and partial zero emission vehicle credits from October 1, 2012, to September 1, 2013. The automaker purchased 368.865 ZEV credits and 507.50 AT ZEV credits over the one year span.
ZEV credits are sold by makers of electric and partial electric vehicles to automakers that do not make a high enough percentage of ZEVs to meet California standards. Companies like Tesla, who were the number one seller of ZEV credits at 1, 311.52, have many credits to sell off as they make only electric vehicles. One credit does not equal one vehicle. For instance, a Tesla Model S can count for up to seven credits due to its range of 300 miles and ability to swap batteries.
Toyota, seller of the second most amount of credits, sold the exact same amount of AT PZEV credits as GM bought, according to the report. GM told BusinessWeek that they do not discuss their California ZEV credits.
“California’s regulations are strict and flexibility is important as we develop new advanced technology vehicles to meet them,” GM Spokesman Shad Balch told BusinessWeek.
Prices of the credits are not disclosed, as the trading information is considered proprietary information among companies. To see the ARBs full report, click here.