German Car Makers Fined $1B Over Emission Collusion mbtmag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mbtmag.com Daily Mail and Mail on Sunday newspapers.
BRUSSELS: The European Union handed down $1 billion in fines to major German car manufacturers Thursday, saying they colluded to limit the development and rollout of car emission-control systems.
Daimler, BMW and Volkswagen along with its Audi and Porsche divisions avoided competing on technology to restrict pollution from gasoline and diesel passenger cars, the EU’s executive commission said. Daimler wasn’t fined after it revealed the cartel to the European Commission.
It was the first time the European Commission imposed collusion fines on holding back the use of technical developments, not a more traditional practice like price fixing.
EU antitrust chief Margrethe Vestager said that even though the companies had the technology to cut harmful emissions beyond legal limits, they resisted competition and denied consumers the chance to buy less polluting cars.
July 9, 2021
BRUSSELS (AP) The European Union (EU) yesterday handed down USD1 billion in fines to four major German car manufacturers, saying they colluded to limit the development and rollout of car emission control systems.
Daimler, BMW, VW, Audi and Porsche avoided competing on technology to restrict pollution from gasoline and diesel passenger cars, the European Commission said.
Daimler wasn’t fined after it revealed the cartel to the European Commission.
EU antitrust chief Margrethe Vestager said that even though the companies had the technology to cut harmful emissions beyond legal limits, they avoided to compete and denied consumers the chance to buy less polluting cars.
By DAVID McHUGH and RAF CASERT (Associated Press)12:52, Jul 09 2021
The European Union handed down US$1 billion (NZ$1.4 billion) in fines to major German car manufacturers Thursday, saying they colluded to limit the development and rollout of car emission-control systems. Daimler, BMW and Volkswagen along with its Audi and Porsche divisions avoided competing on technology to restrict pollution from petrol and diesel passenger cars, the EU s executive commission said. Daimler wasn t fined after it revealed the cartel to the European Commission. It was the first time the European Commission imposed collusion fines on holding back the use of technical developments, not a more traditional practice like price fixing.
EU fines 4 German car makers $1B over emission collusion | iNFOnews | Thompson-Okanagan s News Source infotel.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from infotel.ca Daily Mail and Mail on Sunday newspapers.