The former chief executive of the carmaker Volkswagen has been charged in Germany over his involvement in the company's diesel emissions scandal. The public prosecutor in Braunschweig charged Martin Winterkorn and four other managers with fraud. VW said it would not comment on the indictments.
Luxury car brand Audi has confirmed that 2.1 million of its cars around the world were outfitted with software that enabled them to cheat emissions standards. The announcement clarifies Audi's role in the diesel emissions scandal roiling its parent company, Volkswagen.
Martin Winterkorn, CEO of Volkswagen who resigned on Wednesday amid allegations that the company cheated emissions testing for 11 million diesel-powered cars, stands to take home a $32 million pension.
The scandal that has undermined Germany's Volkswagen in the United States spread to its core market of Europe on Tuesday, after the company admitted that eleven million of its diesel cars worldwide were equipped with software that was used to cheat on emissions tests in the US.
Shares in German auto giant Volkswagen (VW) fell more than 20% in morning trading at the Frankfurt stock exchange on Monday in reaction to revelations that some of its diesel cars in the United States had been fitted with software that gave false emissions data.