On June 18th, Audi CEO Steader was arrested on the grounds that it hindered the judicial authorities from investigating the incident of public exhaust emissions, which exposed the public “discharge gate” that had faded out of public view. surface mount assembly
On Wednesday, the German prosecutor imposed a $1.2 billion fine on Volkswagen’s global diesel engine emissions. surface mount assembly
The German prosecution and Volkswagen jointly announced a fine of 1 billion euros, hoping to uncover the scandal that shocked the company and stifled the diesel car sales industry. The German prosecutor said in a statement: This is also one of the highest fines imposed by Germany on businesses.
After a thorough inspection, Volkswagen accepted the fine and will not appeal it. The company acknowledges that it is responsible for the diesel emissions scandal and believes that this is another big step in the future. According to Volkswagen, the German prosecutor’s survey showed that 10.7 million vehicles sold by the public to the US, Canada and the world in mid-2007 to 2015 had “unauthorized software functions.” Volkswagen said that the main reason for this problem is the company’s poor supervision of its powertrain development department that develops engines and transmission systems. surface mount assembly
Former Volkswagen CEO Martin Winter Cohen was sued in the US last month for a diesel exhaust emissions scandal. He was charged with fraud, conspiracy to defraud US customers and violation of the Clean Air Act.
Volkswagen has paid a heavy price for its “small cleverness.” As of March 2017, Volkswagen was sentenced by the US court to nearly $30 billion in fines ($4.3 billion in criminal and civil penalties + $25 billion in civil compensation). Although the general public has been ranked in the top ten of the world’s top 500 for a long time, it has also been punished with great penalties, and the planned expansion plan in China has also been forced to stop.
The Volkswagen Group, which owns Audi and Porsche, is the world’s largest auto company and the jewel of German industry. The Americans are so embarrassed, is it a big problem and an opportunity to attack competitors? surface mount assembly
However, the arrest warrant issued to Audi CEO was the procuratorate in Munich, Germany. Seven days before the arrest warrant was issued, the German Braunschweig Prosecutor’s Office had imposed a fine of 1 billion euros on the public. The civil claim of the owner was also being tried in the German courts.
In fact, the US government is not soft on the US industry and the TMT industry. In 2006, Boeing was fined more than $600 million by the Ministry of Justice for exporting military-grade chips and suspected bribery. The CEO went to work and the CFO was jailed. Pfizer, Johnson & Johnson, and Microsoft all suffered billions of dollars in fines, and Microsoft was almost split in two. Microsoft’s predecessor AT&T was split into eight in 1984 by the Federal Department of Justice’s Antimonopoly Service. From 2013 to 2016, the US Department of Justice fined the US financial industry’s Pearl JP Morgan for $13 billion, Citigroup for $7 billion, Bank of America for $16.7 billion, Goldman Sachs for $5.1 billion, and Morgan Stanley for $3.2 billion. The crime was caused by the sale of toxic financial assets triggered by the 2008 financial crisis. The same crime was also punished by Deutsche Bank for $7.2 billion and Credit Suisse for $5.3 billion. surface mount assembly
Some commentators said that the German economy’s star Volkswagen suffered heavy losses in the United States. The German government did not protect the short-term. Instead, it severely punishes the loan because the company violated the regulations. The Germans understand that the continued prosperity of the German economy requires thousands of stars. A starry night sky has to keep the sky clear, so that every company participating in international competition is the most important.
Germany has set an example for us! surface mount assembly