VW Porsche Unit Settles German Diesel Probe for $599 Million
- Carmaker makes third deal with prosecutors over diesel rigging
- Criminal investigation against individual managers continues
Photographer: Krisztian Bocsi/Bloomberg
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Volkswagen AG’s Porsche sportscar unit agreed to pay 535 million euros ($599 million) to end a probe into rigged diesel engines, bringing the total amount of fines in its home country to more than 2.3 billion euros.
The carmaker won’t appeal the order which was levied as part of an ongoing criminal investigation targeting managers at the Porsche brand, the Stuttgart prosecutors office said in a statement on Tuesday. The penalty covers the sale of cars since 2009 that were equipped with V6 and V8 engines from VW’s sister brand Audi.