Volkswagen fined 1 billlion euros over emissions scam

BERLIN: Volkswagen ( VW) was fined one billion euros ( RM4.72 billion) over diesel emissions cheating in what amounts to one of the highest ever fines imposed by German authorities against a company, public prosecutors said on Wednesday.

The German fine follows a US plea agreement from January 2017 when VW agreed to pay $ 4.3 billion to resolve criminal and civil penalties for installing illegal software in diesel engines to cheat strict US anti-pollution tests.

“Following thorough examination, Volkswagen AG accepted the fine and it will not lodge an appeal against it. Volkswagen AG, by doing so, admits its responsibility for the

“Following thorough examination, Volkswagen AG accepted the fine and it will not lodge an appeal against it. Volkswagen AG, by doing so, admits its responsibility for the diesel crisis and considers this as a further major step toward the latter being overcome. Volkswagen statement

diesel crisis and considers this as a further major step toward the latter being overcome,” it said in a statement.

VW’s new Chief Executive Herbert Diess said the carmaker was still trying to overcome its emissions cheating scandal after the record fine.

“By doing this, Volkswagen takes responsibility for the diesel crisis,” Diess said in a statement.

“Further steps are necessary to restore trust in the company and the auto industry,” he added.

The fine is the latest blow to Germany’s auto industry which cannot seem to catch a break from the diesel emissions crisis.

On Monday, The German government ordered Daimler to recall nearly 240,000 cars fitted with illegal emissions- control devices, part of a total of 774,000 models affected in Europe as a whole.

Munich prosecutors this week widened an emissions cheating probe into VW’s luxury brand Audi to include Chief Executive Rupert Stadler among the suspects accused of fraud and false advertising.

The fine on VW did not address any civil claims or claims by vehicle owners, the prosecutor’s office said in its statement.

VW said it held a management board meeting to discuss the latest development in its emissions crisis with members of the supervisory board also being informed.— Reuters