Volk­swa­gen fined US$1.2B over diesel scan­dal

The Welland Tribune - - Business -

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.

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