It appears they were all doing it. Fiat Chrysler shares are collapsing following EPA accusations that the automaker used cheating software to beat diesel emissions tests, and this violated pollution laws.
The U.S. Environmental Protection Authority will accuse Fiat Chrysler of using software that allowed excess diesel emissions in about 100k U.S. vehicles, Reuters reports in tweet, citing people familiar.
BREAKING: EPA to accuse Fiat Chrysler of using software that allowed excess diesel emissions in about 100,000 U.S. vehicles – sources
— Reuters U.S. News (@ReutersUS) January 12, 2017
The stock is down over 10%…
As AP reports,
Two people briefed on the matter say that the U.S. government is accusing Fiat Chrysler of violating the Clean Air Act on some of its diesel engines.The Environmental Protection Agency has scheduled a news conference for Thursday morning to release details of the matter. The people briefed on the matter didn’t want to be identified because the formal announcement hasn’t been made.The move comes one day after federal prosecutors announced that Volkswagen would plead guilty to criminal charges and pay a record $4.3 billion penalty for cheating on emissions tests.
EPA to make announcement on major automaker today at 11am ET/
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