Volkswagen weighs appeal against EU fine over emissions tech collusion By Reuters

Volkswagen weighs appeal against EU fine over emissions tech collusion By Reuters


© Reuters. FILE PHOTO: A Volkswagen logo is seen as it launches its ID.6 and ID.6 CROZZ SUV at a world premiere ahead of the Shanghai Auto Show, in Shanghai, China April 18, 2021. REUTERS/Aly Song

BERLIN (Reuters) – Volkswagen (DE:) said on Thursday it was considering whether to take legal action against an EU antitrust fine, saying the penalty over technical talks about emissions technology with other carmakers set a questionable precedent.

“The Commission is entering new judicial territory, because it is treating technical cooperation for the first time as an antitrust violation,” the German carmaker said after it was fined 502 million euros ($593 million).

“Furthermore it is imposing fines, although the content of the talks was never implemented and no customers suffered any harm as a result,” Volkswagen added in a statement.

Volkswagen called for clearer guidelines: “The high fines imposed in this case underscore the need for more comprehensive guidance from the Commission to ensure that legal uncertainty does not hamper innovation in Europe,” it said.

($1 = 0.8459 euros)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a comment

Send a Comment

Your email address will not be published.

Enter text shown below: