{"id":6400,"date":"2021-07-08T12:38:56","date_gmt":"2021-07-08T12:38:56","guid":{"rendered":"http:\/\/TheNextWeb=1359772"},"modified":"2021-07-08T12:38:56","modified_gmt":"2021-07-08T12:38:56","slug":"eu-fines-german-car-cartel-1b-over-emissions-collusion-but-spares-daimler-for-snitching","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=6400","title":{"rendered":"EU fines German car cartel $1B over emissions collusion, but spares Daimler for snitching"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"https:\/\/img-cdn.tnwcdn.com\/image\/shift?filter_last=1&amp;fit=1280%2C640&amp;url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2021%2F07%2FUntitled-design-8-1.jpg&amp;signature=e00516adae723ba522f5594c2e7dd585\" class=\"ff-og-image-inserted\"><\/div>\n<p>The EU has slapped four leading German carmakers with a combined fine of $1 billion (<span>\u20ac875 million)<\/span> for colluding to prevent the deployment of clean emissions technology.<\/p>\n<p><strong>Up front: <\/strong>The European Commission ruled that Daimler, BMW, and the Volkswagen Group (Volkswagen, Audi, and Porsche) had collectively agreed to limit the development of tech that could<span>&nbsp;restrict pollution from gasoline and <a href=\"https:\/\/thenextweb.com\/topic\/diesel-fuel\">diesel<\/a> cars.&nbsp; <\/span><\/p>\n<p><span>Daimler, however, avoided a fine after revealing the group\u2019s existence.&nbsp;<\/span><\/p>\n<p>Margrethe Vestager, Executive Vice-President of the Commission, said the collusion broke EU antitrust rules:<\/p>\n<blockquote readability=\"12\">\n<p>The five car manufacturers Daimler, BMW, Volkswagen, Audi, and Porsche possessed the technology to reduce harmful emissions beyond what was legally required under EU emission standards. But they avoided to compete on using this technology\u2019s full potential to clean better than what is required by law.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"8.5745341614907\">\n<p lang=\"en\" dir=\"ltr\">Total fine of \u20ac875 million to <a href=\"https:\/\/twitter.com\/BMW?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">@BMW<\/a><a href=\"https:\/\/twitter.com\/Porsche?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">@Porsche<\/a><a href=\"https:\/\/twitter.com\/AudiOfficial?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">@AudiOfficial<\/a><a href=\"https:\/\/twitter.com\/VW?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">@VW<\/a><a href=\"https:\/\/twitter.com\/Daimler?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">@Daimler<\/a> for illegally colluding to restrict competition on emission cleaning technology for diesel cars. There are legitimate pro-competitive reasons to cooperate, but this went wrong! More: <a href=\"https:\/\/t.co\/jvKGdpBXFJ\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">https:\/\/t.co\/jvKGdpBXFJ<\/a><\/p>\n<p>\u2014 Margrethe Vestager (@vestager) <a href=\"https:\/\/twitter.com\/vestager\/status\/1413061808856907780?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">July 8, 2021<\/a><\/p>\n<\/blockquote>\n<p><span>The VW Group received the majority of the fine \u2014 $594m (\u20ac502m) \u2014 while BMW got the remaining $594m (\u20ac373m).<\/span><\/p>\n<p><strong>Quick take: <\/strong>A&nbsp;$1 billion fine is obviously no small sum, but still less than some carmakers had feared. <span>According to <a href=\"https:\/\/www.ft.com\/content\/0c594b02-6f91-4b9d-bab7-11992f116316\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">the Financial Times<\/a>, BMW alone had initially set aside&nbsp;$1.67 bn (\u20ac1.4bn) for the proceedings.<\/span><\/p>\n<p>The fines are also low compared to those dished out during Dieselgate.&nbsp;Volkswagen <a href=\"https:\/\/www.reuters.com\/article\/us-volkswagen-results-diesel-idUSKBN2141JB\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">says<\/a> the emissions scandal has cost it a total of $37bn (<span>\u20ac<\/span>31.3bn) in fines and settlements.<\/p>\n<p> <a href=\"https:\/\/thenextweb.com\/news\/eu-fines-german-carmakers-1b-emissions-collusion-vw-bmw-daimler-audi-porsche\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EU has slapped four leading German carmakers with a combined fine of $1 billion (\u20ac875 million) for colluding to prevent the deployment of clean emissions technology. Up front: The European Commission&#8230;<\/p>\n","protected":false},"author":1,"featured_media":6401,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/6400"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6400"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/6400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/6401"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}