Volkswagen fined US$1.2B over diesel scandal
BERLIN — Automaker Volkswagen said Wednesday that it’s being fined 1 billion euros ($1.18 billion) by German authorities in connection with the diesel emissions scandal. Volkswagen said it would accept the fine imposed by prosecutors. Prosecutors concluded that Volkswagen failed to properly oversee the activity of its engine development department, resulting in about 10.7 million diesel vehicles with illegal emissions-controlling software being sold worldwide. The scandal, which came to light in the United States in 2015, has already cost the German automaker $20 billion in fines and civil settlements in the U.S. Volkswagen said it hoped that paying the German fine would have “positive effects on other official proceedings being conducted in Europe against Volkswagen” and its subsidiaries.