Emission door still not closed: Volkswagen headquarters is searched again by German prosecutors

category:Finance
 Emission door still not closed: Volkswagen headquarters is searched again by German prosecutors


In September 2015, the U.S. Environmental Protection Agency and other relevant departments accused some diesel vehicles sold by Volkswagen of installing special software to deal with exhaust emission detection, which can enable the vehicle to pass the customs with high standards during vehicle inspection, up to 40 times of the U.S. legal standards.

Volkswagen said the raid was linked to an investigation into the model ea288 diesel vehicle, which had revealed to the registration authorities the core issue of the new investigation - targeting individual employees.

Volkswagen said that in the simulation, vehicles with the ea288 engine did not show that the diesel filter had failed, but still met the emission limits. The company added that the engine was not fitted with illegal efficiency reduction devices.

So far in 2015, the company has paid about 30 billion euros (US $33 billion) in fines, vehicle modifications and legal fees, as well as a global boycott of diesel vehicles.

Volkswagen said that at the time of the scandal, about 11 million vehicles around the world had installed the illegal software.

In the past four years, the mass emission gate event continues to ferment. In March 2018, more than 50000 Volkswagen UK owners filed a lawsuit in the high court in London on the forgery of diesel vehicle emissions of Volkswagen Group. On September 24, 2019, German prosecutors filed a market manipulation accusation against Herbert dease, CEO of Volkswagen Group, Hans Dieter pan, chairman of VW group, and Martin vandern, former CEO, saying that they did not inform investors of the consequences of the diesel door incident as soon as possible. According to Bloomberg, nearly 100000 car owners in the UK have filed a class action lawsuit against Volkswagen Group, claiming that the companys use of cheating equipment violates relevant laws and requires the latter to pay a corresponding price. The British high court is expected to hold a two-week hearing. This is the largest class action lawsuit launched by the UK to solve the mass emission gate incident. Volkswagen Group will continue to firmly defend its position in the high court of London, VW said. Volkswagen continues to believe that the claimant has not suffered any loss and that the vehicles affected by the case have not used the legally prohibited efficiency reduction device. This hearing will have no effect on liability attribution or loss. Source: surging news editor: Wang Xiaowu NF

In the past four years, the mass emission gate event continues to ferment. In March 2018, more than 50000 Volkswagen UK owners filed a lawsuit in the high court in London on the forgery of diesel vehicle emissions of Volkswagen Group. On September 24, 2019, German prosecutors filed a market manipulation accusation against Herbert dease, CEO of Volkswagen Group, Hans Dieter pan, chairman of VW group, and Martin vandern, former CEO, saying that they did not inform investors of the consequences of the diesel door incident as soon as possible.

According to Bloomberg, nearly 100000 car owners in the UK have filed a class action lawsuit against Volkswagen Group, claiming that the companys use of cheating equipment violates relevant laws and requires the latter to pay a corresponding price. The British high court is expected to hold a two-week hearing.

This is the largest class action lawsuit launched by the UK to solve the mass emission gate incident. Volkswagen Group will continue to firmly defend its position in the high court of London, VW said. Volkswagen continues to believe that the claimant has not suffered any loss and that the vehicles affected by the case have not used the legally prohibited efficiency reduction device. This hearing will have no effect on liability attribution or loss.