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FX.co ★ Daimler AG fined $1.5 billion for diesel emissions cheating

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Forex-Humor:::2020-09-24

Daimler AG fined $1.5 billion for diesel emissions cheating

German automaker Daimler AG will have to pay the fine of $1.5 billion to the US authorities for manipulating the data on emissions testing. The US Department of Justice and the Environmental Protection Agency agreed to reach a settlement with the German company and insisted it should pay a hefty fine for violating the environmental law. The US regulators investigated the case and proved that Daimler cheated on air pollution tests using special software. The so-called defeat device software installed on cars helped circumvent the emissions testing by showing lower levels of nitrogen dioxide, whereas in fact all the maximum levels were exceeded. As a result, the German auto giant sold roughly 290,000 cars in the US with the diesel engines that did not meet the state and federal standards. Now, apart from paying a huge penalty, Daimler has to fix all the already sold vehicles and pay out $700 million to settle a class-action lawsuit brought by car owners. Notably, in Germany, Daimler AG was also under investigation for breaking diesel emissions regulations. However, at home, the company got off with a smaller fine of 870 million and a punishment for all the parties involved. 


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