Stuttgart prosecutors issues a 535 mn euros fine on Porsche over diesel cheating

On Tuesday, May 7th, Stuttgart prosecutors revealed that German sports car maker and Volkswagen subsidiary Porsche is eligible to pay a fine of a 535-million-euro (USD 598 million) in regards to compensate for its diesel vehicles that emitted more harmful pollutants than which is permitted.

In a statement, the investigators said, “The Stuttgart prosecutor’s office has levied a 535-million-euro fine against Porsche AG for negligence in quality control.”

With the prosecutors’ office further adding, Porsche “abstained from a legal challenge” against the decision.

As per reports, Tuesday’s levy against Porsche marks the latest string of fines against VW over its years-long “dieselgate” scandal.

Back in 2015, as per reports, the auto behemoth had confessed to manipulating nearly 11 million vehicles globally to appear less polluting in laboratory tests than they were in real driving conditions.

In an interview with AFP, a spokesperson of Volkswagen said, “Following fines against, high-end subsidiary Audi, VW and now Porsche, no further investigations over ‘administrative offenses’ remain open against the group.”

Although, legal proceedings against individuals such as former chief executive Martin Winterkorn will continue to be in motion.

Porsche released its own statement regarding the matter, in which it said that the negligence punished by prosecutors was identified “several levels below the board”.

The firm further added that a provision of nearly one billion euros which was booked by the VW group in the first quarter had the cost of the fine included in it.

Currently, as per reports, the total costs of “dieselgate” for the Wolfsburg-based behemoth have surged to nearly 30 billion euros.

 

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