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PHOTO CAPTION: Every Roadster and now Models S Tesla sells earns it credits it can sell to other car company, include Honda who is reported to have paid $13 million so far.

California Launches Electric Car 'Cap-in-Trade' Scheme

Carmakers who don't build enough Zero Emission Vehicles to meet California quotas can buy credits from those who do.

Published: 10-Jun-2012

What a terrific idea!

California's zero emissions vehicle (ZEV) law requires automakers to sell an increasing number of zero emission vehicles in the state - and those that can't meet their targets can buy "credits" from automakers who can.

Automakers that can't meet their targets or don't buy enough credits face thousands of dollars in fines for each missed credit. The state can also ban the automaker from selling cars there.

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