TOKYO -- Global automakers face the risk of 14.5 billion euros ($17.2 billion) in fines from the European Union for failing to meet tougher new emissions standards, a prospect that has sent them racing to buy carbon credits from U.S. electric vehicle maker Tesla.
Automobiles
In struggle to meet EU rule, automakers turn to Tesla for credits
$17bn in fines await if emissions standards are not met by 2021