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Dieselgate: Volkswagen AG cops $1.56 billion fine

Big dollars: According to Reuters, Volkswagen AG has set aside a €25.8 billion ($A40.23 billion) provision for the ramifications of dieselgate.

German public prosecutor hands Volkswagen AG eight-figure fine over dieselgate

14 Jun 2018

- Volkswagen AG has been handed a €1 billion ($A1.56 billion) fine from the public prosecutor in Braunschweig, Germany, for its involvement in the ‘dieselgate’ diesel emissions cheating saga.
- Claimed to be one of the largest financial penalties imposed by German authorities against a company, the fine consists of the maximum €5 million penalty permissible for a regulatory offence, plus €995 million for the economic benefits gained as a result of the cheating.

Click here for full story: Dieselgate: Volkswagen AG cops $1.56 billion fine

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