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Daimler to pay 870 million euro fine in relation to diesel investigation

Daimler to pay 870 million euro fine in relation to diesel investigation
FILE PHOTO: The Mercedes emblem is seen on a Vision Mercedes-Maybach Ultimate Luxury show car ahead of the Daimler annual shareholder meeting in Berlin, Germany, May 22, 2019. REUTERS/Hannibal Hanschke -
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Hannibal Hanschke(Reuters)
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BERLIN (Reuters) – German luxury carmaker Daimler <DAIGn.DE> will pay a fine of 870 million euros (767 million pounds) in relation to the certification of diesel vehicles that did not meet regulatory requirements, prosecutors in the southern city of Stuttgart said on Tuesday.

The maker of Mercedes-Benz cars said in a separate statement it will refrain from taking legal remedies and confirmed its earnings forecast.

“The public prosecutor’s administrative offense proceeding against Daimler AG are thereby fully concluded,” it added.

Stuttgart prosecutors said the fine has no impact on an ongoing investigation into individuals in relation to suspected manipulation of diesel engine software.

(Reporting by Thomas Seythal; Writing by Madeline Chambers)

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