The EPA Just Accused Fiat Chrysler (FCAU) Of This

Fiat Chrysler Automobiles NV had some bad news on Thursday when the U.S. Environmental Protection Agency (EPA) accused the automaker of illegally using hidden software to allow excess diesel emissions to go undetected.

The accusation was the result of a probe that stemmed from regulators’ investigation of rival Volkswagen AG.
The maximum fine for this is a hefty $4.6 billion!

Both the EPA and California Air Resources Board told Fiat Chrysler it believes its undeclared auxiliary emissions control software allowed vehicles to generate excess pollution in violation of the law and each issued notices of violation.

New York Attorney General Eric Schneiderman said in a statement he “will investigate the claims against Fiat Chrysler and stands ready to work with our state and federal partners.”

Fiat Chrysler Chief Executive Sergio Marchionne rejected the allegations. He said, “I’m really pissed off” about reports that equate FCA’s issues with VW’s.

“The way that it has been described, I think, has been unfair to FCA, and that is the thing that disturbs me most.”
Due to the fact that he has rejected the accusation, the company will push the case into the administration of President-elect Donald Trump.

Disclaimer: We have no position in Fiat Chrysler Auto (NYSE: FCAU) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

sophia-villa has 1782 posts and counting.See all posts by sophia-villa

Get my latest stock alerts Real Time when you subscribe to the Newsletter.