General Motors has agreed to pay a $145.8 million penalty and forfeit hundreds of millions of dollars in carbon credits after a US government investigation found that approximately 5.9 million of its vehicles emitted more than 10% higher carbon dioxide than initially reported. The Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) found that the emissions exceeded the allowed limits for the 2012-2018 model years. GM will also cancel over 30.6 million fuel economy credits for the 2008-2010 model years to resolve the issues identified by the EPA’s light-duty vehicle in-use testing program. The automaker had previously disclosed that it was in discussions with regulators regarding adjustments to its credits, estimating the costs at $450 million.
Source and Details