EU Fines Volkswagen, BMW $1 Billion , for Withholding Emissions Technology.
EU Fines Volkswagen, BMW $1 Billion , for Withholding Emissions Technology.
EU Fines Volkswagen, BMW $1 Billion , for Withholding Emissions Technology.
The European Commission's findings
were announced July 8.
It was discovered that Volkswagen and
BMW had entered into an agreement with
a third automaker, Daimler.
to not compete against
each other to develop technology that
would lead to less nitrogen-oxide emissions.
The European Commission found that such an agreement violates EU antitrust laws.
The five car manufacturers
Daimler, BMW, Volkswagen, Audi and
Porsche possessed the technology to
reduce harmful emissions beyond
what was legally required under
EU emission standards. , Margrethe Vestager, EU Commission Antitrust Official, via CNN.
But they avoided to compete on using this technology's full potential to clean better than what is required
by law, Margrethe Vestager, EU Commission Antitrust Official, via CNN.
In today's world, polluting less is an important characteristic of any car. And this cartel aimed at restricting competition on this key competition parameter, Margrethe Vestager, EU Commission Antitrust Official, via CNN.
Volkswagen's response to the ruling
indicated that an appeal was possible.
The Commission is breaking new legal ground with this decision, because it is the first time it has prosecuted technical cooperation as an antitrust violation, Volkswagen, statement, via CNN.
The company also indicated it may consider the fines unreasonable as customers were "never harmed.".
BMW issued a similar statement, repudiating the ruling. .
There has never been any allegation of unlawful manipulation of emission control systems by the BMW Group, BMW, statement, via CNN
