VW Agrees to $1.2 Billion Fine as Diesel Crisis Grinds On
Volkswagen AG will pay a 1 billion-euro ($1.2 billion) fine imposed by German prosecutors for cheating to get around diesel-emissions regulations, closing one chapter in a three-year-old crisis even as new developments arise. The world’s biggest automaker accepts the fine and takes responsibility for its actions, Wolfsburg, Germany-based Volkswagen said in a regulatory filing on Wednesday after markets closed. “We work with vigor on dealing with our past,” Chief Executive Officer Herbert Diess said in a separate statement.