Tesla Says It Has Sold $13.8 Million in Zero-Emissions-Vehicle Credits to Honda

Tesla Says It Has Sold $13.8 Million in Zero-Emissions-Vehicle Credits to Honda

We've said more than once that part of Tesla Motors' business plan would consist of revenue the Silicon Valley electric-vehicle maker would generate selling zero-emissions-vehicle credits large automakers need to be able to sell automobiles in California.

This week Tesla reported to the U.S. Securities and Exchange Commission that it has made $13.8 million selling ZEV credits equal to 368 cars to Honda the past two years. The Japanese automaker is contracted for an additional 287 credits.

Tesla has sold about 1,100 all-electric Roadsters (pictured), which start at $109,000 apiece, to celebrities, EV advocates and others since 2008. But in filings for a planned initial public offering that may raise at least $100 million, closely held Tesla said that it has lost money every year since its founding in 2003.

California, with federal permission to set pollution rules that often exceed national standards, in 2008 required that Honda, Toyota, General Motors Co., Ford Motor Co. and Nissan Motor Co. combine to sell more than 60,000 plug-in hybrid and battery-only models in the state over a three-year period.

Companies failing to comply face fines and potential restrictions on sales in California, which annually buys more than 10 percent of all new vehicles sold in the U.S.

While Tokyo-based Honda is the only company leasing pollution-free hydrogen cars to U.S. retail customers, it lacks plug-ins required under the state rules. However, the automaker - and others - can purchase ZEV credits from other automakers.

Tesla's filing said it also sold credits to at least one additional automaker, which it didn't identify, and Tesla officials declined to comment on them today.

Scott Doggett:  is an AutoObserver.com Associate Editor.