Daimler to pay nearly $1B emissions penalty in Germany
The German automaker vows not to appeal the ruling.
Emissions scandals have been thrust back into the limelight today as Daimler has been hit with an 870-million-euro (~$957 million USD) penalty following news of charges against Volkswagen executives.
German prosecutors accuse Daimler of negligently falling short of its supervisory duties by selling Mercedes-Benz diesel vehicles that did not comply with emissions regulations.
The German automaker has maintained its 'objections' against findings of the country's emissions regulator, however the company has declined to appeal the rulings.
"It is in the Company's best interest to end the administrative offense proceeding in a timely and comprehensive manner and thereby conclude this matter," the automaker said in a statement.
Daimler now considers the case closed and does not expect the fine to have a negative impact on earnings.