Name: Daimler agrees to U.S. diesel settlements worth nearly $3 billion
Brand: reuters.com
SKU: reuters-com-1049
Availability: OnlineOnly

critic

Daimler agrees to U.S. diesel settlements worth nearly $3 billion

preview

By , WASHINGTON/BERLIN (Reuters) - Daimler said on Thursday it has reached agreements costing nearly $3 billion to settle civil investigations by U.S. regulators and lawsuits from vehicle owners stemming from a long-running probe into software to cheat diesel emissions tests.The settlements in principle address civil and environmental claims tied to 250,000 U.S. diesel passenger cars and vans in the United States and include claims from the Environmental Protection Agency, Justice Department, California Air Resources Board (CARB) and the California Attorney General’s Office.The German carmaker said it expects the costs of the settlements with U.S. authorities will total $1.5 billion, settling with owners will cost about $700 million and “further expenses of a mid three-digit-million EUR (euro) amount to fulfill requirements of the settlements.”A spokesman for CARB confirmed the settlement “will reach $1.5 billion and affects 250,000 vehicles nationwide.” The agency said it would disclose more details after binding consent decrees with the U.S. government agencies are filed with a U.S. district court, currently anticipated for mid-September.The maker of Mercedes-Benz cars said it expects an impact on its free cash flow over the next three years as a result, with the main impact within the next 12 months.Daimler said previously it was the subject of a Justice Department criminal investigation but the status of that probe was not addressed Thursday.Fiat Chrysler Automobiles NV in 2019 reached a settlement worth about $800 million to resolve claims by regulators and owners that it used illegal software that produced false results on diesel-emissions tests, but still faces an ongoing criminal probe.In total, Volkswagen agreed to pay more than $25 billion in the United States for claims from owners, environmental regulators, states and dealers. VW also ended sales of diesel passenger vehicles in the United States.Reporting by David Shepardson and Emma Thomasson; Editing by Susan Fenton and Steve OrlofskyOur Standards:

By , WASHINGTON/BERLIN (Reuters) - Daimler said on Thursday it has reached agreements costing nearly $3 billion to settle civil investigations by U.S. regulators and lawsuits from vehicle owners stemming from a long-running probe into software to cheat diesel emissions tests.The settlements in principle address civil and environmental claims tied to 250,000 U.S. diesel passenger cars and vans in the United States and include claims from the Environmental Protection Agency, Justice Department, California Air Resources Board (CARB) and the California Attorney General’s Office.The German...

public

@Reuters reporter in DC covering transportation, aviation, autos + (anything that moves) @fcc tech Pvs @DetroitNews Michigan native. Father of three, husband

David Shepardson

Emma Thomasson

Top and breaking news, pictures and videos from Reuters. For more breaking business news, follow @ReutersBiz.

reuters.com

Credible

Speculation

Anecdotal Evidence

Generalization

Stacking the Deck

Appeal to Authority

Straw Man

Slippery Slope

Emotional Appeal

Red Herring

False Dilemma

Illogical

Moral Equivalency

Ad Hominem

Correlation w/o Causation

Semantics

Begging the Question

Faulty Analogy

Non Sequitur

Bandwagon

Dogmatism

Failing Occam's Razor

Biased

Pure Opinion

Hit Piece

Racial Bias

National Bias

Religious Bias

Financial Incentive

Political Agenda

Gender Bias

Misused Image/Video

Study Misinterpreted

Mistake

Misused Term

Science Misrepresented

Factual Error

Satire

Surface Level

Lack of Reliable Sources

Sensational

Not Credible

Investigative

Balanced

Well Sourced

Great Context

sports

entertainment

U.S.

international

business

technology

science

culture

politics

media

health

Daimler agrees to U.S. diesel settlements worth nearly $3 billion

No article scores yet.

CRITIC REVIEWS

PUBLIC REVIEWS