VW’s Audi unit settles Munich diesel probe for US$926mil

  • Auto Premium
  • Wednesday, 17 Oct 2018

German automakers Volkswagen AG, Daimler AG and BMW AG build vehicles at plants in the United States

MUNICH: Volkswagen AG’s Audi unit agreed to pay an 800 million-euro (US$926mil) fine for its role in the diesel-cheating scandal that has disrupted the car industry for more than three years and landed Audi’s longtime leader in jail.

The penalty consists of the maximum fine of five million euros and the seizure of 795 million euros in profits the company made selling rigged engines, Munich prosecutors said in a statement. As part of the deal, Audi admitted that it had deviated from regulatory requirements.

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