Audi to pay 800m-euro penalty over dieselgate

Frankfurt Am Main, Oct 16

Volkswagen said on Tuesday its subsidiary Audi had agreed to pay an 800-million-euro ($927 million) fine issued by German prosecutors to close a diesel cheating investigation.

“Audi AG has accepted the fine” investigators levied for “deviations from regulatory requirements in certain V6 and V8 diesel aggregates (motors) and diesel vehicles”, the group said in a statement, adding that “the fine will directly affect Volkswagen AG’s financial earnings” for 2018.

“The administrative proceeding against Audi AG opened because of the diesel scandal is hereby closed in a legally binding way,” Munich prosecutors said in their statement. — AFP