The German penalty follows approximately 18 months after US authorities handed down a $4.3 billion fine.
Volkswagen has been hit with another massive fine, adding another billion euros (~$1.2 billion USD) to the growing costs of the diesel emissions scandal.
The latest penalty has been levied by prosecutors in VW’s native Germany. Among the country’s largest-ever corporate fines, the administrative order accuses the company of failing to prevent illegal emissions software from being deployed in more than 10 million vehicles.
“Following thorough examination, Volkswagen AG accepted the fine and it will not lodge an appeal against it,” the automaker said. “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.”
The announcement is hardly newsworthy following several years of legal action, culminating in the US fine of $4.3 billion handed down early last year.
VW voices confidence that the termination of enforcement proceedings in Germany marks the final hurdle in overcoming other active actions in Europe.
The German penalty follows approximately 18 months after US authorities handed down a $4.3 billion fine.
Volkswagen has been hit with another massive fine, adding another billion euros (~$1.2 billion USD) to the growing costs of the diesel emissions scandal.
The latest penalty has been levied by prosecutors in VW's native Germany. Among the country's largest-ever corporate fines, the administrative order accuses the company of failing to prevent illegal emissions software from being deployed in more than 10 million vehicles.
"Following thorough examination, Volkswagen AG accepted the fine and it will not lodge an appeal against it," the automaker said. "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."
The announcement is hardly newsworthy following several years of legal action, culminating in the US fine of $4.3 billion handed down early last year.
VW voices confidence that the termination of enforcement proceedings in Germany marks the final hurdle in overcoming other active actions in Europe.
