Volkswagen’s Porsche brand probed as diesel emissions scandal spreads
Berlin: Volkswagen AG’s Porsche brand faces a formal probe by German prosecutors as the diesel emissions scandal spreads to Volkswagen’s iconic sports car maker.
Prosecutors in Stuttgart said they were escalating an informal investigation started last year into allegations the Porsche brand may have defrauded consumers by selling autos with software that manipulated emissions.
While no individual suspects were named, investigators are looking into the role of employees at the Porsche brand in Germany and the US, Jan Holzner, spokesman for Stuttgart prosecutors, said in an emailed statement on Monday.
Volkswagen admitted in September 2015 that about 11 million diesel cars worldwide were fitted with so-called defeat devices—embedded algorithms used to game emissions tests. The company is now facing three separate diesel-fraud probes in its home country. Braunschweig prosecutors are investigating 37 suspects at Volkswagen, while Munich counterparts are looking into an unidentified number of suspects at the Audi unit, one of whom was arrested a week ago. Volkswagen has also faced criminal probes abroad, including the US.
The Porsche brand’s press office didn’t immediately reply to an email seeking comment.
The brand is the sports car-making unit owned by Volkswagen. It’s separate from Porsche Automobil Holding SE, a listed company whose main asset is a majority share in Volkswagen. Bloomberg
- Govt revokes passports of Nirav Modi and Mehul Choksi
- Warren Buffett warns investors that safe-looking bonds can be risky
- Rotomac fraud: Lucknow court hands over custody of Vikram, Rahul Kothari to CBI
- PM Modi launches Tamil Nadu government’s Amma scooter scheme
- India, China agree on bilateral engagement calendar