Up front: The European Commission ruled that Daimler, BMW, and the Volkswagen Group (Volkswagen, Audi, and Porsche) had collectively agreed to limit the development of tech that could restrict pollution from gasoline and diesel cars. Daimler, however, avoided a fine after revealing the group’s existence. Margrethe Vestager, Executive Vice-President of the Commission, said the collusion broke EU antitrust rules:
— Margrethe Vestager (@vestager) July 8, 2021 The VW Group received the majority of the fine — $594m (€502m) — while BMW got the remaining $594m (€373m). Quick take: A $1 billion fine is obviously no small sum, but still less than some carmakers had feared. According to the Financial Times, BMW alone had initially set aside $1.67 bn (€1.4bn) for the proceedings. The fines are also low compared to those dished out during Dieselgate. Volkswagen says the emissions scandal has cost it a total of $37bn (€31.3bn) in fines and settlements.
