Porsche fined €535m by German prosecutors over diesel emissions fraud
Category: #headlines  | By Nikita Chaurasia  | Date: 2019-05-09 |
  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn

Porsche fined €535m by German prosecutors over diesel emissions fraud

Audi, VW, Porsche all sold diesel engine vehicles that had failed to meet clean air regulations and were able to cheat emissions tests

Reports suggest that prosecutors in Germany have levied a 535 million euro fine on German luxury automobile maker Porsche AG, a unit of Volkswagen Group, as punishment for supervisory duty failures which led to the diesel emissions scandal.

Sources familiar with the matter stated that prosecutors in the southern city of Stuttgart have recently claimed that the development department of the company had overlooked its legal obligations, which eventually led to the sale of diesel cars that emitted excessive pollution levels in the environment.

 

Supposedly, the fine against Porsche AG follows a 1-billion-euro penalty for management lapses levied against Volkswagen by public prosecutors in Braunschweig, Germany, and also a penalty of €800 million against Audi by public prosecutors in Munich, Germany in 2018.

Sources informed that on Sept. 18, 2015, U.S. authorities revealed systematic emissions cheating of Volkswagen, highlighting the biggest business scandal in the company’s history till now which has cost Volkswagen €30 billion in fines and penalties.

Audi, VW, Porsche all sold diesel engine vehicles that had failed to meet clean air regulations as well as were able to cheat emissions tests, the sources mentioned.

Apparently, German prosecutors have followed individual engineers and taken regulatory actions against the automakers for lack of oversight, since the managers failed to stop heavily polluting cars from hitting European roads.

Along with this, Porsche confirmed the fine and stated that proceedings of prosecutors against the company had now ended. The fine and penalty does not hamper current proceedings against individual people in relation to diesel manipulations of Porsche, prosecutors said.

For the uninitiated, Porsche AG is a German-based automobile manufacturer specializing in high-performance sedans, SUVs, and sports cars. It is headquartered in in Stuttgart, Germany and is owned by Volkswagen AG. Current lineup of Porsche including Panamera, Cayenne, Macan, and 718 Boxster/Cayman.

 

Source Credit: https://www.reuters.com/article/us-volkswagen-emissions-porsche/porsche-to-pay-535-million-euro-fine-over-diesel-affair-idUSKCN1SD1BA

  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn


About Author

Nikita Chaurasia     twitter

Nikita Chaurasia

Having always been daft at wordplay, Nikita Chaurasia, post the completion of post-graduation, commenced her journey into the content generation cosmos. Endowed with a professional MBA degree in Advertising and Public Relations, Nikita strives to integrate her creativ...

Read More..

More News By Nikita Chaurasia

Goldman Sachs provides unlimited holidays to its senior employees

Goldman Sachs provides unlimited holidays to its senior employees

By Nikita Chaurasia

Goldman Sachs has recently announced a flexible vacation scheme under which the company’s senior employees can take unlimited paid leaves annually. As per sources, the global investment bank has unveiled a new policy that will allow senior sta...

Shell trades off Russian retail business to native oil producer Lukoil

Shell trades off Russian retail business to native oil producer Lukoil

By Nikita Chaurasia

Energy giant Shell plans on selling more than 400 petrol stations of its Russian subsidiary Shell Neft to Lukoil, the second largest oil producer in the country after state backed Rosneft. As several Western oil and gas firms seek to get rid of th...

Mitsubishi, Siemens sign an MoU to cooperate in SiC traction technology

Mitsubishi, Siemens sign an MoU to cooperate in SiC traction technology

By Nikita Chaurasia

Mitsubishi Electric Europe and Siemens Mobility have recently signed a memorandum of understanding (MoU) to work together in silicon carbide (SiC) traction power technology. As per reports, JR Central’s next-generation N700S Shinkansen train...