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Audi Pays €800 Million to Settle Diesel Probe
Volkswagen AG’s Audi unit has agreed to pay an €800 million ($927 million) fine to settle charges that it sold diesels rigged to circumvent pollution laws.
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Volkswagen AG’s Audi unit has agreed to pay an €800 million ($927 million) fine to settle charges that it sold diesels rigged to circumvent pollution laws.
The settlement comprises a maximum €5 million fine for cheating and the return of €795 million in profits derived from selling the doctored engines, according to prosecutors in Munich. Audi also admits the wrongdoing.
The Audi settlement is similar to a €1 billion agreement reached in June between parent Volkswagen Group and prosecutors in Braunschweig. Neither agreement affects separate civil investigations into the companies and several of their executives.
The Audi probe stemmed from VW Group’s admission in 2015 that it used illegal software to manipulate emissions from millions of 4- and 6-cylinder diesels sold worldwide. Audi headed development of the latter engines.
Former Audi CEO Rupert Stadler was jailed in June on suspicion of interfering with the investigation by tampering with witnesses. He remains in custody after Audi canceled his contract early this month and removed him from the boards of VW Group and Audi.
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