German Car Giants Face Multibillion Fines For Suspected Collusion - Reports

MOSCOW (UrduPoint News / Sputnik - 09th March, 2019) German auto giants BMW, Volkswagen, and Daimler each face up to $1 billion in fines by the European Commission for alleged antitrust conspiracy, local media said Friday.

EU antitrust authorities plan to announce the fines in the coming weeks, according to Der Spiegel news magazine.

BMW and Daimler have cooperated with the regulator and might get off with smaller fines.

Whether EU Commissioner for Competition Margrethe Vestager succeeds in this is not clear, the outlet added. Germany is expected to protest, as will the carmakers.

Der Spiegel reported last year that Germany's top five car giants - Volkswagen, Audi, Porsche, BMW and Daimler - met in secret to agree on the implementation of technologies in their cars to reduce harmful particle emissions.