German authorities fined Daimler 870 million euros

German authorities fined Daimler 870 million euros

September 25, 2019 0 By autotimesnews

German prosecutors fined Daimler $ 960 million for “negligence” during the investigation of the diesel scandal.

During the investigation, German prosecutors discovered that the automaker sold about 684 thousand cars that did not meet nitrogen oxide emission standards, the Stuttgart authorities said in a statement. In a separate statement, Daimler, the “parent” concern of the Mercedes-Benz brand, said that the fine would not have a material effect on third-quarter earnings.

The penalty is the latest result of tightening control over automakers after the scandal with the underestimation of diesel emissions of Volkswagen Group, which continues to appear in the German automotive industry 4 years later.

Recall that we wrote earlier that Volkswagen CEO Herbert Diss and Chairman of the Board Hans Dieter Pötch were accused of manipulating the market in Germany because they did not inform investors in advance about falsification of diesel engine tests. Former CEO Martin Winterkorn has also been charged with similar charges.

Stuttgart authorities launched an investigation into the Daimler earlier this year. The prosecutor’s office said that the concern’s fine does not affect the ongoing investigation of individuals suspected of manipulating diesel engine software.