Thursday, 21 June, 2018

Volkswagen fined €1.2bn over diesel emissions scandal

Diesel Emission Scandal German prosecutor hits Volkswagen with €1B Dieselgate fine
Ginger Lawrence | 14 June, 2018, 10:32

Volkswagen has been fined one billion euros (RM4.7 billion) over diesel emissions from the company's cars, according to Reuters. Then, the automaker agreed to pay $4.3 billion to resolve both civil and criminal penalties relating to the installation of illegal software that allows its vehicles to circumvent US emission tests.

The latest fine imposed on Volkswagen did not address civil claims or claims made by vehicle owners, the prosecutor's office said in a statement.

In response to the fine, Volkswagen has confirmed it will not launch an appeal but says it now considers all further proceedings against it in Europe will be settled. Later, researchers were able to find the exact code that suppressed the emissions control system on 2007-2015 diesel Volkswagens, Audis, and Porsches from Volkswagen Group.

In the spiralling scandal, Germany ordered Monday the recall of some 774,000 Daimler vehicles across Europe, citing illegal defeat devices.

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.

Exhaust-ing ordeal: Woman gets head stuck in tailpipe
In a tell-all piece , she told Stephen Wiblemo what went through her head before she jammed it into the pipe. Strom added that she didn't know the owner of the truck. "I bet you could fit your head inside of it".

"As a result of the administrative order imposing the fine, the active regulatory offence proceedings conducted against Volkswagen will be finally terminated", the company said.

The €1 billion ($1.2 billion) penalty was announced Wednesday by public prosecutors and the company, which said it was hoping to turn a page on emissions cheating.

VW said it held a board meeting to discuss the crisis, with members of the supervisory board also being informed.

"We must plan for interruptions to production in the third quarter", VW chief executive Herbert Diess told workers.

"The fact that the criminal risk has now been dealt with is good news", said Arndt Ellinghorst, an analyst with Evercore ISI.