Thursday, 14 June 2018

Volkswagen gets $1.2 billion fine in Germany for diesel fraud

For “breaches of supervision” in its engine department which led to the diesel-emission manipulation of almost 11 million cars from 2007 to 2015, German prosecutors have placed a penalty of €1 billion ($1.2 billion) on automobile manufacturer Volkswagen.

Though relatively mild compared to the $26 billion VW paid to settle criminal and civil suits in the US, the huge fine is one of the biggest penalties on any company in Germany.

VW on Wednesday “accepted” the fine, saying in a statement that it’s “committed to its responsibility for the diesel crisis.”

Prosecutors in Braunschweig said the company failed to properly supervise development of the engine with defeat devices, so that 10.7 million vehicles with the illegal software were sold worldwide between 2007 and 2015.

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