BMW, Daimler, Volkswagen, Audi and Porsche sanctioned
The European Commission has fined five major automakers for €875 million for cartel conspiracy in the field of emission treatment technologies for diesel cars, reports TASS.
This statement was made on Thursday, July 8, at a press conference in Brussels by the deputy head of the European Commission Margrethe Vestager.
“The European Commission decided to impose a fine totaling 875 million euros on five automakers for cartel conspiracy in the field of emission technologies for diesel passenger cars,” – she said.
BMW, Daimler, Volkswagen, Audi and Porsche were hit by the fines.
“All five companies have admitted their involvement in the cartel and are involved in the settlement,” stressed Vestager. – The companies have no right to restrict competition that achieves better technical solutions, this is illegal as it violates consumers’ rights.”
She also clarified that Daimler was the first to provide information to the European Commission about the existence of the cartel and to cooperate with the investigation, so the European Commission granted it immunity from penalties.
In August 2020, it was reported that global automakers lost around $250 billion in revenue in the first half of the year due to the coronavirus pandemic, which led to production stoppages and significantly hit demand.