Cars and Drivers
Mercedes-Benz Maker May Have Cheated on Diesel Emissions Tests
Published:
Last Updated:
Citing unnamed sources, German newspaper Bild am Sonntag reported Sunday that Mercedes-Benz maker Daimler AG may have developed software for its diesel-powered vehicle that was intended for the sole purpose of ensuring that the vehicles passed regulatory tests for emissions. The company’s shares lost more than 2% in Monday trading.
The software was reportedly discovered by U.S. investigators and company officials said that regulators have been investigating Daimler have known about the documents released by Bild am Sonntag for over two years and have not filed a complaint against the company.
The company also said it continues to cooperate with the U.S. Environmental Protection Agency and the California Air Resources Board and has begun its own investigation at the request of the U.S. Department of Justice.
In 2015, German automaker Volkswagen AG was found by regulators to have installed software on its diesel-powered vehicles that could distinguish between normal operations and testing and was used deliberately to provide a lower emissions reading when a vehicle was being tested.
The cheating scandal has cost Volkswagen some $30 billion so far and if Daimler is found to have done the same thing, the company could be subject to similarly severe repair and penalty charges.
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.