Fiat Chrysler to pool vehicles with Tesla to avoid EU fines

U.K.-based Fiat Chrysler Automobiles N.V. plans to pool its vehicles with U.S.-based electric carmaker Tesla Inc. to avoid paying fines for violating new European Union emissions rules, BBC reported citing sources. Under the deal, Fiat Chrysler will pay hundreds of millions of euros for the right to count Tesla's electric vehicles as part of its fleet. Carmakers can pool the models within their own companies or of other carmakers to meet the EU's emission target which comes into force in 2020.

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