VW fined $1.2 billion by German prosecutors over diesel cheating

BERLIN — Volkswagen has been fined 1 billion euros ($1.18 billion) by public prosecutors in Germany over diesel emissions cheating. The company said it will accept the fine, therefore admitting responsibility for the scandal.

“Following thorough examination, Volkswagen AG accepted the fine and it will not lodge an appeal against it. Volkswagen AG, by doing so, admits its responsibility for the diesel crisis and considers this as a further major step towards the latter being overcome,” it said in a statement on Wednesday.

The German fine follows a U.S. plea agreement from January 2017, when VW agreed to pay a criminal fine of $4.3 billion to resolve criminal and civil penalties.

“By doing this, Volkswagen takes responsibility for the diesel crisis,” VW CEO Herbert Diess said in a statement on Wednesday after VW agreed to accept the fine.

“Further steps are necessary to restore trust in the company and the auto industry,” he said.

The prosecutor’s office in Braunschweig, Germany, ordered the fine against the carmaker for having “impermissible software functions” in 10.7 million cars between 2007 and 2015, Volkswagen said.

As a result of the fine being imposed, the regulatory offense proceedings against Volkswagen will be terminated, which the Wolfsburg-based carmaker said it assumes will help to settle further administrative proceedings against VW in Europe.

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