In Germany, fined Volkswagen a billion euros

Volkswagen suffered huge losses due to dieselgate During the investigation it was found out that Volkswagen violated the monitoring rules when testing about 10.7 million cars. The Prosecutor's Office of the city of Braunschweig in Lower Saxony has fined the Volkswagen AG auto parts concern for 1 billion euros due to a diesel scandal. This is stated in the company's press release, published on Wednesday, June 13.

Volkswagen agreed with the fine, acknowledged its responsibility and will not file an appeal. The concern hopes that the payment of a fine "will have a material positive effect on proceedings that continue in other European countries."

The amount includes the maximum possible fine of 5 million euros and another 995 million euros in the form of a return of illegally obtained profits.

The investigation revealed that Volkswagen violated the monitoring rules when testing about 10.7 million cars equipped with diesel engines. These cars were sold with illegal programs installed on them, underestimating the emissions of harmful substances during testing.

Let's remind, the diesel scandal around Volkswagen has inflamed in 2015. It already cost the automaker multibillion-dollar fines, which were imposed by the US authorities.

On the eve of the German industrial and commercial chamber estimated the costs associated with a dieselgate of 500 million euros.