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VW scandal and impact on German economy


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VW scandal and impact on German economy

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Daimler settles legal dispute for 1.9 billion

Daimler has settled the legal dispute over diesel emissions in the USA with two settlements. However, according to the Group, this does not constitute an admission of guilt.

Daimler has to pay a total of 1.9 billion to end the legal dispute in the United States over increased diesel emissions. This was announced by the US Department of Justice and the vehicle manufacturer itself. The sum comprises two settlements. This would mean that Daimler would settle both the preliminary proceedings of the US authorities and the numerous lawsuits filed by car owners.

The settlements with the U.S. authorities will therefore cost around 1.5 billion dollars. This includes a civil fine of 875 million dollars.

Daimler underlined that this was not an admission of guilt. Whether the functions used in the vehicles are "defeat devices" - i.e., inadmissible shut-off devices of the exhaust gas purification systems - was not determined in the course of the settlement: "The settlement agreements explicitly state that the company denies the allegations of the authorities as well as the claims of the class action plaintiffs and does not admit any liability to the U.S., California, the plaintiffs or in any other way.

The group had always rejected targeted manipulations of exhaust technology with cheating software (as used for years at Volkswagen).

Now Daimler has to improve the cars via software updates, similar to what is done in Europe. In addition, there are other environmental measures for which the company has to pay. In addition to the sums stipulated in the settlements, Daimler expects to incur costs in the mid three-digit million range in order to implement the agreement.

Translated from today's news in Germany
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