Oct 16, 2018

Audi fined £700m over diesel emissions scandal

AFP Audi has been fined €800m to settle an investigation by German prosecutors into violations of diesel emissions rules. Audi, whose ex-boss Rupert Stadler is being investigated over "Dieselgate", said affected cars spanned 2004-18. Audi said in a statement that some V6 and V8 diesel engines were "Placed on the market with an impermissible software function". In 2015, US investigators discovered that some VW diesel cars were fitted with what became known as "Defeat devices" to flatter emissions readings during engine tests so that the true output of nitrogen oxides was reduced. The company's total costs in fines, buybacks and refits has now reached €27bn. While the probe against Audi is now closed, other cases against executives from the VW group - including former chief executive Martin Winterkorn - remain open, with charges including fraud, false advertising and failure to keep investors informed.

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