EU Fines Volkswagen, BMW $1 Billion , for Withholding Emissions Technology.<br />EU Fines Volkswagen, BMW $1 Billion , for Withholding Emissions Technology.<br />EU Fines Volkswagen, BMW $1 Billion , for Withholding Emissions Technology.<br />The European Commission's findings<br />were announced July 8.<br />It was discovered that Volkswagen and <br />BMW had entered into an agreement with <br />a third automaker, Daimler.<br />to not compete against <br />each other to develop technology that <br />would lead to less nitrogen-oxide emissions.<br />The European Commission found that such an agreement violates EU antitrust laws.<br />The five car manufacturers <br />Daimler, BMW, Volkswagen, Audi and <br />Porsche possessed the technology to <br />reduce harmful emissions beyond <br />what was legally required under <br />EU emission standards. , Margrethe Vestager, EU Commission Antitrust Official, via CNN.<br />But they avoided to compete on using this technology's full potential to clean better than what is required <br />by law, Margrethe Vestager, EU Commission Antitrust Official, via CNN.<br />In today's world, polluting less is an important characteristic of any car. And this cartel aimed at restricting competition on this key competition parameter, Margrethe Vestager, EU Commission Antitrust Official, via CNN.<br />Volkswagen's response to the ruling <br />indicated that an appeal was possible.<br />The Commission is breaking new legal ground with this decision, because it is the first time it has prosecuted technical cooperation as an antitrust violation, Volkswagen, statement, via CNN.<br />The company also indicated it may consider the fines unreasonable as customers were "never harmed.".<br />BMW issued a similar statement, repudiating the ruling. .<br />There has never been any allegation of unlawful manipulation of emission control systems by the BMW Group, BMW, statement, via CNN
