In the middle of a fight for survival, the German sub-supplier to the automotive industry Continental has been fined 745 million kroner for fraud.
The German sub-supplier to the automotive industry Continental has failed its share of the responsibility for the so-called dieselgate.
According to the authorities, the sub-supplier has turned a blind eye to the fraud, which has taken place especially in Germany's part of the car industry.
This is written by Automobilwoche .
Therefore, the German authorities have fined the company a staggering 100 million euros. This corresponds to DKK 745 million.
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Something Continental has not chosen to protest about. The company also does not believe that the fine of almost DKK 1 billion will affect the annual result to any significant extent.
The company states that it has already set aside enough money to be able to cover the stall. Even though parts of the business are sailing and are threatened with bankruptcy.
The sub-supplier, which is probably best known for producing tyres, already announced in February that it is cutting back heavily on the so-called Automotive programme. That means mass layoffs.
The savings plan also means that the German company is packing up and leaving two addresses in the towns of Wetzlar and Schwalbach. Read more about it here.
However, the fine for Continental has not put an end to the diesel scandal. On the contrary, the car brands are still caught cheating with the emissions of the diesel cars.
Most recently, BMW has been exposed in grossly manipulating 150,000 diesel cars. The German answer to the National Transport Agency, the KBA, believes it can prove that BMW has actually cheated and manipulated the emissions of harmful substances for four years. Read more about it here .
However, it is not only the industry that is being tightened tremendously these days. Drivers around the world can also feel that it is all escalating.
In the Netherlands, the state lacks so much money that they try to cover themselves by raising a special penalty for motorists. Read more about it here .
