The EU has levied €875 million in fines against Germany's biggest carmakers for colluding to curb the use of emission technology. It's the latest black eye for the German auto industry in its emissions scandal.
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The European Commission has said BMW and Volkswagen colluded on limiting the roll-out of emissions-cutting technology and fined the carmakers €875 million.
The carmaker presented an all new electric S-Class Thursday, its first ground-up electric vehicle. The German auto industry has been slow to switch to electric, but is that changing? Investors are bullish.
The Beijing motor show is taking place as automakers struggle to recover from a battering by the pandemic. The firms are hardly going to miss the opportunity to showcase their cars in the world's biggest auto market.
German carmakers are shuttering their European plants as the virus takes a toll on demand and supply chains. The crisis — the biggest the industry has seen since the World War II — could not have come at a worse time.
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