German carmaker Audi AG, subsidiary of Volkswagen Group, has been fined by the Munich prosecutor's office a total of 800 million euros ($927 million) for installing emission-manipulating equipment in V6 and V8 diesel engines, the company said in a statement on Tuesday.
MOSCOW (Pakistan Point News / Sputnik - 16th October, 2018) German carmaker Audi AG, subsidiary of Volkswagen Group, has been fined by the Munich prosecutor's office a total of 800 million Euros ($927 million) for installing emission-manipulating equipment in V6 and V8 diesel engines, the company said in a statement on Tuesday.
"The fine provides for a total of 800 million euros, consisting of the maximum legal penalty of 5 million euros for negligent misdemeanors and a deduction of economic benefits of 795 million euros," the statement says.
The company has accepted the fine after thorough examination and will not appeal against it, it added.
"AUDI AG is thus committed to its responsibility for the violations of supervisory duties that have occurred," it said.
The company said the fine would result in significant financial underperformance in the 2018 financial year, as compared to its latest forecasts.
The public scandal around the Volkswagen Group, which includes the Audi, Bentley, Porsche AG, SEAT and Skoda brands, originally arose in September 2015, when the US Environmental Protection Agency accused the company of using software to falsify emission test results for its diesel-engine cars. The company admitted that 11 million of its vehicles worldwide had been fitted with such software and agreed to pay $15 billion in settlement. The US government obliged the company to recall nearly 500,000 Volkswagen and Audi cars manufactured in 2009-2015 equipped with emissions cheating software.
In early February, media reported that Munich prosecution had conducted searches in Audi headquarters in the city of Ingolstadt over the company's involvement in the so-called "diesel scandal." In early June, Germany's Federal Motor Transport Authority (KBA) ordered Audi to recall 60,000 cars with diesel engines worldwide over the alleged use of emission-manipulating equipment.
