Volkswagen CEO Unaware Of Price Fixing In Cartel Investigation

The European Commission on Monday widened an investigation and searched the premises of Volkswagen (VW) and Daimler on suspicion they had conspired to fix prices in diesel and other technologies over several decades.

By Reuters

1 mins read

Published on October 25, 2017

Highlights

EU searched the premises of VW and Daimler earlier this week
Several car-makers had allegedly conspired to fix prices in diesel
The alleged secret committees discussed standardization issues

Volkswagen has no information that price fixing was part of the alleged collusion between German carmakers, chief executive Matthias Mueller said. The European Commission on Monday widened an investigation and searched the premises of Volkswagen (VW) and Daimler on suspicion they had conspired to fix prices in diesel and other technologies over several decades. Also Read: EU Antitrust Regulators Are Probing Possible German Cartel Among German Carmakers The alleged secret committees set up by German carmakers discussed standardization issues, Mueller said on Thursday at an auto-industry conference hosted by Germany's Handelsblatt newspaper in Stuttgart. Also Read: EU Raids BMW In Anti-Trust Cartel Case; Daimler To Turn Witness Separately, Mueller said VW can live well with a Chinese compromise on electric vehicle quotas. Also Read: European Union Raids Daimler, Volkswagen In Cartel Inquiry To combat air pollution, China wants electric and hybrid cars to make up at least a fifth of the country's auto sales by 2025 and plans to loosen joint-venture regulations to achieve its aim. (Reporting by Ilona Wissenbach. Writing by Andreas Cremer) © Thomson Reuters 2017 (This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)