(CercleFinance.com) – Continental announces that it has agreed to pay the fine of 100 million euros imposed on it and its subsidiaries by the Hanover public prosecutor’s office.
The authorities accuse Continental of a ‘negligent violation’ of its supervisory obligations relating to the supply of engine control units and software for engine control units.
In 2015, ‘Dieselgate’ made headlines, with Volkswagen suspected of hiding the real level of pollution in millions of its diesel cars.
At the time, Continental’s former transmission division – which became Vitesco Technologies in 2021 – supplied equipment to Volkswagen. The equipment manufacturer therefore found itself at the heart of the investigation.
Continental said it would not appeal.
‘It is important and in our own interest to put an end to this procedure. We have made the topic of integrity our top priority, creating a new organizational structure and requiring intensive training for our employees. We are committed to this process and will continue to invest in the integrity of the company,’ commented Olaf Schick, Board Member for Integrity and Law
The fine will not have a significant additional impact on the results for the 2024 financial year as a provision had been made for this purpose for several years.
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