14.6.2018VW fined 1bn euros by German prosecutors over diesel emissions
German authorities have fined Volkswagen 1 billion euros (£880 million) over its diesel emissions scandal.
The fine is one of of the largest ever by German prosecutors against a company. VW has said that it accepts the fine, and will not appeal against it.
With 10.7 million models sold with emissions cheating software, a VW statement has confirmed that the Braunschweig public prosecutor's administrative order "provides for a fine of 1 billion euros in total, consisting of the maximum penalty as legally provided for of 5 million euros and the disgorgement of economic benefits in the amount of 995 million euros."
According to the prosecutor, the penalties have been handed to Volkswagen because of models "being advertised, sold to customers, and placed on the market with an impermissible software function in the period from mid-2007 until 2015."
Because Volkswagen has accepted the fine, regulatory offence proceedings are now completed in Germany, though the civil claims will still be made against the company in due course.
Volkswagen has already paid out almost £20 billion in fines and compensation in the US, where around one million drivers were affected and the diesel emissions scandal first broke.