German luxury automaker Audi will pay a fine of roughly US$930 million to settle regulatory action in its home country for rigging some of its diesel vehicles with illegal software designed to defeat emissions tests, the company said on Tuesday.
Daimler, the German car maker that owns Mercedes-Benz, will be run by a non-German for the first time next year. Dieter Zetsche, 65, will be replaced by Ola Kaellenius, a 49-year-old Swede, as chief executive in a succession plan announced on Wednesday.