Continental hit with $107 million fine over Dieselgate scandal
Reuters
Published Apr 25, 2024 09:29
BERLIN (Reuters) - Automotive supplier Continental has been fined 100 million euros ($107.16 million) for breaching its supervisory duties in connection with the Dieselgate emissions scandal, German prosecutors said on Thursday.
The state prosecutor in Hanover, where Continental is headquartered, said it had issued the fine following an emissions-rigging investigation into the group and other parts of the company.
Continental said in a statement that the fine took into consideration its full cooperation and assistance in clarifying the matter, as well as strengthened compliance structures.
Continental accepts the fine and waives its right to appeal, it said.
The prosecutor set a six-week deadline for payment of the penalty, which was first reported by Wirtschaftswoche.
The Dieselgate scandal rocked Germany's automotive industry in 2015 when it emerged that cars had been fitted with illegal software to cheat environmental emissions tests.
Other suppliers have been fined in connection with the scandal, including ZF Friedrichshafen and Bosch, the world's largest supplier of car parts.
Fines against Volkswagen (ETR:VOWG_p), where the manipulations were first uncovered, amounted to 1 billion euros.
($1 = 0.9332 euros)
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Written By: Reuters
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