x
Breaking News
0

Fiat Chrysler to modify 104,000 U.S. diesel vehicles - company

Stock MarketsMay 19, 2017 21:20
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. A screen displays the ticker information for Fiat Chrysler Automobiles NV at the post where it's traded on the floorof the NYSE

By David Shepardson

WASHINGTON (Reuters) - Fiat Chrysler Automobiles NV (MI:FCHA) plans to update software that it expects will resolve the concerns of U.S. regulators about excess emissions in 104,000 older diesels, the Italian-American automaker said on Friday.

The company also said on Friday that it had formally sought approval to sell two 2017 diesel models after months of talks and testing.

The software update would begin rolling out once the Environmental Protection Agency and California Air Resources Board approved, Fiat Chrysler said. The company said it does not anticipate any impact on performance or fuel efficiency.

The EPA declined to comment. California said in a statement it "is continuing its discussions with FCA to fully address and resolve the issues" it raised.

In January, the EPA and California accused Fiat Chrysler of illegally using undisclosed software to allow excess diesel emissions in 104,000 U.S. 2014-2016 Jeep Grand Cherokees and Dodge Ram 1500 trucks in a notice of violation.

The notice was the result of a probe that arose out of regulators' investigation of rival Volkswagen AG's (DE:VOWG_p.DE) excess emissions.

Reuters reported on Wednesday that the Justice Department is preparing to file a civil lawsuit against the automaker for selling 104,000 vehicles that emit excess diesel emissions if it does not reach an agreement with the company.

Fiat Chrysler said Friday it believes "these actions should help facilitate a prompt resolution to ongoing discussions with the Environment and Natural Resources Division of the U.S. Department of Justice and other governmental agencies."

Fiat Chrysler shares rose as much as 4.3 percent in Friday trading on the New York Stock Exchange, but ended virtually unchanged from Thursday's close.

The vehicles' engines were manufactured by VM Motori SpA, a subsidiary of FCA, and some component parts for the engines were supplied by Robert Bosch GmbH [ROBG.UL].

Bosch faces about two dozen lawsuits from owners over the FCA diesel vehicles.

The Justice Department and the EPA have obtained internal emails and other documents written in Italian that look at engine development and emissions issues that raise significant questions, Reuters reported Thursday.

A federal judge in California set a May 24 hearing on a series of lawsuits filed by owners of vehicles and some dealers against Fiat Chrysler and the Justice Department is expected to file its action by then if no agreement is reached.

Fiat Chrysler to modify 104,000 U.S. diesel vehicles - company
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

 
Are you sure you want to delete this chart?
 
Write your thoughts here
 
Replace the attached chart with a new chart ?
Post
Post also to:
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email