Stellantis's Peugeot Faces Probe into Alleged Emissions Fraud
10 Juni 2021 - 7:36AM
Dow Jones News
By Joshua Kirby
Stellantis NV said late Wednesday that its French subsidiary
Peugeot is under examination by authorities on allegations of
consumer fraud relating to emissions from some diesel vehicles.
The allegations relate to the sale of Euro 5 diesel vehicles
between 2009 and 2015, Stellantis said. Two other subsidiaries,
France's Citroen and Fiat Chrysler Automobiles Italy, have been
summoned to appear before a court in Paris as part of the same
investigation, the former on Thursday and the latter in July, the
auto maker added.
Peugeot will pay bail of 10 million euros ($12.2 million) and
provide a bank guarantee of EUR30 million for potential
compensation, Stellantis said. Peugeot is also considering its
defense options.
"The companies firmly believe that their emission-control
systems met all applicable requirements at the relevant times and
continue to do so and look forward to the opportunity to
demonstrate that," said Stellantis, which was formed in January
this year from a merger between Peugeot and FCA.
The move comes a day after fellow French auto maker Renault SA
was hit with preliminary charges on similar allegations of
emissions fraud.
French authorities in 2016 launched investigations into a number
of car makers after Germany's Volkswagen AG admitted using devices
to cheat on laboratory emissions tests.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
June 10, 2021 01:27 ET (05:27 GMT)
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