The heat is … off? Porsche pays to stand out from the diesel scandal



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Porsche, manufacturer of SUVs (but also sports cars), was no longer in a hurry to escape the scandal of diesel emissions that has lasted for almost four years. The automaker has agreed to shell out more than a third package of money to get rid of the scandal imposed on the brand by its parent company Volkswagen AG.

Well, that's not quite right. German prosecutors are still questioning current and former VW Group executives, but the mechanical and regulatory implications of Porsche's intervention will go down in history after paying $ 599 million.

According to the German public broadcaster Deutsche WelleProsecutors said that Porsche "had refrained from suing", preferring instead to pay the fine and get rid of it. The fine, which bears the backing of Porsche to $ 2.57 billion since the beginning of the scandal, covers the sale of vehicles equipped with diesel engines with anti-emissions since 2009.

For Porsche, the penalties are particularly severe because the non-compliant engines are not from his shop. These mills – and their undisclosed defeat devices – were Audi's baby.

Nevertheless, the payment, which will feature in the company's second-quarter earnings report, closes the book on the non-human side of the Dieselgate case. Volkswagen added a provision of one billion euros in the first quarter, knowing that the fine was going to be put in place. In total, the tax penalty imposed on VW for its deception amounts to more than 33 billion dollars.

Managers are still under review for allowing this to happen, however. Last month, German prosecutors indicted Martin Winterkorn, former CEO of VW, for fraud and scandal. It was the first indictment of this country in the diesel business. Winterkorn also faces charges in the United States, where James Liang, a former VW engineer, and Oliver Schmidt, former head of the US environment and engineering bureau of the automaker, are already serving prison sentences .

Will the German legal ax strike the brass neck of the current VW group? As the saga, painfully long, continues, many are asking the same question.

[Image: Porsche]

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