Daimler to Pay More Than $2 Billion to Settle Emissions Claims, Class Action in US
13 Agosto 2020 - 12:16PM
Noticias Dow Jones
By Pietro Lombardi
Daimler AG will pay around $1.5 billion as part of agreements it
reached with U.S. authorities to settle proceedings related to
diesel emissions.
The German car maker said Thursday it has reached an agreement
with various U.S. authorities to settle civil and environmental
claims related to emission control systems of roughly 250,000
diesel passenger cars and vans in the U.S.
Moreover, the company has reached an agreement to settle a class
action over the same issue.
Daimler expects the costs of the settlement to be around $1.5
billion. On top of that, around $700 million will be earmarked to
settle the class action.
"Daimler estimates further expenses of a mid three-digit-million
euros amount to fulfill requirements of the settlements," it
said.
The car maker said it has enough provisions to cover these
costs.
"The company has cooperated fully with the U.S. authorities and
continues to do so," it said.
The U.S. authorities involved in the agreement are the
Environmental Protection Agency, the California Air Resources
Board, the Environment and Natural Resources Division of the U.S.
Department of Justice, the California Attorney General's Office,
and the U.S. Customs and Border Protection.
The agreements, which are subject to approval by the relevant
authorities, will have an impact on cash flow in the next three
years, with the main hit expected in the next 12 months, Daimler
said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com;
@pietrolombard10
(END) Dow Jones Newswires
August 13, 2020 13:01 ET (17:01 GMT)
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