Prosecutors in Germany yesterday slapped Volkswagen with a €1bn (£880m) fine over the emissions cheating scandal which rocked the car manufacturing giant.
The fine consisted of €5m in legal penalties and €995m to account for the “economic benefits” it received from the cheating, the firm said in a statement.
Regulators discovered in 2015 that the iconic German firm added software to its diesel cars designed to understate the amount of toxic emissions under test conditions.
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Volkswagen has already paid more than £20bn in settlements and regulatory fines.
Former chief executive Martin Winterkorn also faces charges in the US along with five other executives related to the scandal, which affected over 11m vehicles.
The company said it will not lodge an appeal against the punishment and that it accepts responsibility. The fine is a “further major step” in its efforts to put the scandal behind it, it said, although it still faces civil claims and claims from vehicle owners.
“The Prosecutor’s Office in Braunschweig ascertained a violation of supervisory duties,” the prosecutor’s office said in a statement, according to Reuters.