Germany Fines Volkswagen €1 Billion Over Dieselgate

The German state prosecutor in the city of Braunschwieg today handed Volkswagen a €1-billion  fine over diesel emissions cheating, according to news reports.

The fine, the largest ever imposed by German authorities, comes on the heels of the German automaker entering into a plea agreement in January of last year where the company agreed to pay US$4.3 billion so as to resolve criminal and civil penalties when it was caught having installed software in its diesel vehicles to get around U.S. vehicle emissions tests.

According to reports, Volkswagen AG has accepted the €1-billion fine and the company will not appeal against it.