🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Germany threatens Daimler with 3.75 billion euro fine over emissions - Spiegel

Published 01/06/2018, 15:32
© Reuters. Retreat of Germany's Federal Cabinet in Meseberg
MBGn
-

BERLIN/FRANKFURT (Reuters) - German Transport Minister Andreas Scheuer has threatened to fine carmaker Daimler (DE:DAIGn) 3.75 billion euros (3.3 billion pounds) over a diesel emissions scandal, Spiegel magazine reported on Friday.

The report comes after Scheuer on Monday questioned Daimler boss Dieter Zetsche in a closed-door meeting over how many Mercedes-Benz vans and cars need to be fixed after a regulator found illegal software in one of its models.

Spiegel, citing no sources, said Scheuer expressed concerns that a total of 750,000 Mercedes vehicles could be affected and that the ministry could impose fines of up to 5,000 euros per car.

A spokesman for the transport ministry said in an email that the carmaker and the transport ministry had agreed to clear up highly complex technical issues related to diesel emissions.

He said concrete steps were agreed following a meeting on Monday in which Transport Minister Andreas Scheuer questioned Zetsche over how many Mercedes vans and cars need to be fixed.

Last month Daimler was ordered by motor vehicle authority KBA to recall Vito vans fitted with 1.6 litre diesel engines because it said they breached emissions rules.

Daimler has said it will appeal against KBA's decision to classify its software as illegal and contest the findings in court if necessary, although it said it was cooperating fully.

Spiegel said there was considerable evidence that diesel engines of the Mercedes C-Class models were also affected and that Daimler representatives would be summoned to the ministry ahead of a planned follow-up meeting of Zetsche and Scheuer later this month.

The report said at least a further 80,000 vehicles might have to be recalled as a result.

A spokesman for Daimler said the group had committed to keeping the nature of its discussions with the Transport Ministry confidential and would not comment.

KBA declined to comment.

© Reuters. Retreat of Germany's Federal Cabinet in Meseberg

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.