There is no peace at home stellantis. While the Antitrust closes 14 measures initiated against the main car manufacturers operating in Italy - including FCA (now the Stellantis group) - the Italian-French car company definitively closes the criminal case promoted five years ago by the US Department of Justice on emissions of over 100 diesel vehicles produced between 2014 and 2016. Detroit federal court judge Nancy Edmunds approved the settlement agreement reached by Stellantis' North American subsidiary and the Justice Department and, based on the agreement, ordered the payment of a fine of approximately $300 million.
Also targeted are three employees of FCA Ua indicted for conspiracy to commit fraud in the United States and violation of the Clean Air Act. Trial is now awaited for them.
"This 300 million fine is the result of an exhaustive three-year investigation - said the deputy attorney general Todd Kim –. This resolution shows that the Justice Department is committed to holding corporate lawbreakers accountable to misleading regulators.”
Stellantis: the allegations of the US Department of Justice
After pleading guilty in June to criminal conspiracy when FCA US's parent company was still Fiat Chrysler, the US Justice Department said the company will pay a fine of $96,1 million and $203,5 million will be forfeited. In addition, the judge imposed a three-year period of "probation", in which managers will be obliged to submit reports to the authorities on compliance with US environmental protection regulations or on inspection and testing procedures.
The causes are all linked to the accusations made by the EPA in January 2017 on the presence of so-called "defeat devices" in 104 vehicles of the brands Jeep e Frame produced from 2014 and equipped with V6 3.0 turbodiesel engines.
Investigations revealed that the car manufacturer had falsified emission test resultsby installing deceptive software with the aim of evading regulatory controls and fraudulently allowing diesel vehicles to meet required emission standards.
Stellantis had already paid a civil fine of 311 million
The settlement follows the similar transaction reached in civil proceedings at the beginning of 2019: FCA Us has already paid a civil fine of $311 million and $183 million in settlements to more than 63 people in a diesel class action lawsuit, but without any guilty pleas.
The stock is not affected on the stock market
So much so that the title it is not affected at Piazza Affari and rises by 0,085% to 14,06 euros with group registrations of around 38.400 units in July, a decrease of 3,6% compared to the almost 40 cars sold in the same month of 2021. And the Stellantis market share stands at 35%.
