VW to pay €1B due to Dieselgate scandal

Business 6/13/2018, 6:09 PM
VW to pay €1B due to Dieselgate scandal

German automaker Volkswagen AG said on Wednesday that it will pay a €1 billion fine over the diesel emissions scandal from 2015, in which it was accused of selling vehicles with fraudulent diesel emissions software built in. Last year, the company paid a $4.3 billion fine in the United States after accepting the responsibility for the misconduct, setting aside €18.2 billion for total damages.

Prosecutors in the city of Braunschweig have determined that the car manufacturer did not conduct proper oversight of its engine development department, and sold more than 10 million cars worldwide between 2007 and 2015, with improper emissions-controlling software built in.

Volkswagen admitted its responsibility for the diesel emissions scandal in a statement, and said it will not appeal against the decision.

Breaking the News / NI

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