Mercedes-Benz owner Daimler fined €870m for diesel emissions scandal
German car manufacturer Daimler has been handed an €870m (£767m) fine for its role in the diesel emissions scandal.
Prosecutors in Stuttgart ruled that the Mercedes-Benz owner had committed a “negligent violation of supervisory duties” by failing to meet regulatory requirements for some of its diesel vehicles since 2008.
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Daimler has faced probes in both Germany and the US over allegations it used software to manipulate emissions tests.
In June the company was ordered to recall 60,000 Mercedes diesel cars in Germany after regulators found they were cheating anti-pollution measures.
Daimler, which had already set aside hundreds of millions of euros to cover the fine, today said its earnings forecast remained unchanged. The company added that it would not challenge the ruling.
“It is in the company’s best interest to end the administrative offence proceeding in a timely and comprehensive manner and thereby conclude this matter,” the firm said in a statement.
Prosecutors said the fine had no impact on an ongoing investigation into individuals in relation to suspected manipulation of diesel engine software.
It came as Volkswagen’s chief executive Herbert Diess was hit with criminal charges for market manipulation in Germany relating to the company’s role in the scandal.
Diess, alongside former chief executive Martin Winterkorn and chairman Hans Dieter Poetsch, has been accused of intentionally failing to inform investors in time about the financial impact of the misconduct.
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Volkswagen, which also owns Audi, has forked out more than €30bn since it admitted to cheating anti-pollution tests in 2015.
Daimler and BMW have both since been implicated in the emissions scandal, which has been dubbed dieselgate.
Main image credit: Getty