Stellantis, General Motors Pay $363M In US Fuel Economy Penalties: Report

Stellantis NV STLA and General Motors Company GM reportedly paid about $363 million in civil penalties for failing to meet U.S. fuel economy requirements in prior years.
The penalties totaled $235.5 million for Stellantis for the 2018 and 2019 model years, reported Reuters.
For GM, the amount was $128.2 million for the 2016 and 2017 model years.
The report cited National Highway Traffic Safety Administration (NHTSA), which administers the Corporate Average Fuel Economy (CAFE) program.
Stellantis said the penalty "reflects past performance recorded before the formation of Stellantis, and is not indicative of the company's direction."
The report further quoted GM saying, "work towards the goal of a zero-emissions future, we may use a combination of credits from prior model years, expected credits from future model years, credits obtained from other manufacturers, and payment of civil penalties to comply with increasingly stringent CAFE regulations."
Also Read: Stellantis Joins Hand With Vulcan To Develop Geothermal Renewable Energy In France
The move comes in the wake of NHTSA's plan to soon propose more tighter fuel economy standards for 2027 and beyond.
Price Action: STLA traded higher by 2.62% at $15.89 and GM up by 4.24% at $34.42 on the last check Friday.

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