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German court fined Volkswagen for € 1 billion because of "dieselgate"

Auto, Business, Germany

The court in Lower Saxony recognized Volkswagen as guilty of the fraud that took place in 2007-2015.
Employees of the company put on their diesel cars software, which understated the actual emissions of harmful substances into the atmosphere. This was done to bypass environmental tests in the US, which measure the level of harmful substances in the exhaust gases. As a result, the German court ordered the company to pay a fine of € 1 billion, reports Reuters.

Following the meeting, the press service of Volkswagen reported that it will not dispute the amount of the fine, recognizes its responsibility for the scandal with diesel cars and counts on the speedy end of the proceedings.

Although the machines were mainly supplied to the US, and there were no complaints from Volkswagen customers, the Brunswick prosecutor's office considered that the concern was guilty of not revealing the violation in time.

The size of the fine is one of the largest in the history of Germany, but in the US Volkswagen has already had to agree to much larger sums. So, in early January, the concern agreed to pay US regulatory authorities $ 4.3 billion to settle the "diesel scandal." As representatives of the German company told, Volkswagen's expenses on dispute resolution exceeded $ 19.2 billion.

On January 24, the US District Court approved a settlement agreement between the Volkswagen auto concern and 650 US dealers, according to which each of them will receive $ 1.85 million compensation for the "diesel scandal" (only $ 1.2 billion).

In addition, Volkswagen agreed to pay incentive payments to dealers and allowed to postpone the capital increase for two years. In total, the German concern agreed to pay $ 22 billion in the US to satisfy complaints from car owners, environmental agencies, local authorities and auto dealers.

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