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Volkswagen Porsche for "emissions fraud", the punishment has never stopped!

2024-11-17 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)08/21 Report--

There seems to be no end to the Volkswagen "emission gate" incident. Recently, South Korean prosecutors said that Volkswagen and Porsche installed illegal cheating equipment in their vehicles, causing their diesel vehicles to violate pollution standards, so they will be fined and brought criminal charges. Two South Korean subsidiaries of Germany's Volkswagen, Audi Volkswagen Korea and Porsche Korea, were fined up to 11.5 billion won ($9.5 million).

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South Korea's Ministry of Environmental Protection said, "reducing the capacity of diesel engine exhaust treatment tanks can help car companies improve the space utilization of vehicles and reduce the size of the trunk." However, for consumers, this move is equivalent to reducing the amount of vehicle exhaust treatment liquid. " From May 2015 to January 2018, more than 10,000 cars sold by Volkswagen and Porsche in South Korea were equipped with emissions cheating devices, causing vehicles to emit 10 times more nitrogen oxides than the standard.

As a result, South Korea's Ministry of Environment plans to cancel import licenses for eight models, including the Audi A6, Volkswagen Touareg and Porsche Cayenne, totaling 1261 vehicles. In addition, corrections will be ordered to the car companies and severe penalties will be imposed.

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In 2015, Volkswagen was exposed for using illegal software to evade emissions tests in the United States, spreading to the global diesel market. So far, the carmaker has spent about 30 billion euros ($33.3 billion) on fines and recalls worldwide to deal with affected vehicles as a result of the case.

In May, Volkswagen Chief Financial Officer Frank Witter said he had set aside 5.5 billion euros ($6.16 billion) in contingent liabilities to deal with the risks posed by the diesel cheating scandal. However, Frank Witter said 3.4 billion euros of Volkswagen's 5.5 billion euros of contingent liabilities would be set aside for possible lawsuits.

Also in May this year, Porsche was convicted by German prosecutors of using cheating software in emissions tests and decided to fine Porsche 535 million euros.

Volkswagen has set aside 1 billion euros in risk reserves to help pay for the diesel emissions cheating scandal, according to Volkswagen Group's first-quarter results. It will also bring the total cost of VW diesel cheating to 30 billion euros.

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The public who are exposed to the "emission door" never seem to stop, and from time to time they have to pay a fine for it. Wave after wave of events have led to a complete defection of Volkswagen's image and reputation in recent years. Until 2020, however, Volkswagen will still spend 1 billion euros on emissions cheating scandals.

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