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Stellantis Will Stop Buying EU Tax Credits From Tesla

Stellantis Will Stop Buying EU Tax Credits From Tesla

Stellantis (NYSE: STLA), the global auto giant formed from the merger of Fiat Chrysler Automobiles (FCA) with French automaker PSA, said that it will no longer buy European environmental credits from electric-car maker Tesla (NASDAQ: TSLA). The move is expected to save Stellantis about 300 million euros ($360 million). About two-thirds of that would have gone to Tesla, Stellantis's Chief Financial Officer Richard Palmer said.