New York, USA
The European
Union (EU) has issued fines of $1 billion to Volkswagen and BMW for their
involvement in the emissions cartel.
According to the
EU, Volkswagen, Audi, Porsche, BMW and Daimler have been illegally colluding
for a long time against the EU Antitrust rules. They have restricted
competition in emission cleaning for new diesel passenger cars that eventually
slowed the deployment of cleaner emissions tech.
All the five car
manufacturers accepted their connection and agreed to settle. Volkswagen owns Audi and Porsche and will pay
$595 million while BMW will pay $442 million. Daimler was charged $861 million,
but the company became the whistleblower and is evading fines.
In 2017, Der
Spiegel first broke the news about the cartel. Since then, the companies have
taken action on introducing greener technologies. All of them, along with Ford
Motor Company, developed a high-power charging network for EVs called Ionity.
The truck businesses of VW, Daimler and Volvo are working to install a network
of public charging stations.
Source – Tech Crunch
Image Source: EU Website
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