Germany fines Volkswagen $1.2 billion for diesel scandal

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Diesel scandal: Volkswagen fined $1.2 billion in Germany









How VW cheated on emissions tests

Prosecutors in Germany have imposed a $1.2 billion fine on Volkswagen over the company’s diesel scandal.

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.

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“It is one of the highest fines ever imposed on a company in Germany,” the prosecutor said in a statement.

The automaker said it accepted the penalty.

Volkswagen (VLKAF) accepted the fine and it will not lodge an appeal against it,” the company said in a statement. “Volkswagen, by doing so, admits its responsibility for the diesel crisis.”

This is a developing story

CNNMoney (London) First published June 13, 2018: 12:23 PM ET



    


    




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