The procurement and supply of automotive information parts are in place in one step
Click on the blue word **
Global Auto Trade Network Information,December 23rd,The U.S. Department of Justice said on Friday that Cummins Inc agreed to pay $16 in principleThe $7.5 billion fine was imposed on hundreds of thousands of engines for installing devices to make them emit excessive pollutants, the largest civil fine to date for violating the Clean Air Act
Reuters).
The Justice Department said Cummins Inc. was suspected of installing "defective equipment" that bypassed or disabled emission control devices, such as emission sensors and on-board computers.
The DOJ said Cummins used defective equipment on 630,000 RAM 2500 and 3500 pickup truck engines manufactured between 2013 and 2019 and undisclosed auxiliary emission control equipment on 330,000 RAM 2500 and 3500 pickup truck engines manufactured from 2019 to 2023 to circumvent emission control requirements.
U.S. Attorney General Merrick Garland said, "Preliminary estimates suggest that defective equipment on some of Cummins' engines has caused them to produce thousands of tons of excessive emissions of nitrogen oxides." "This is the second-largest agreement on environmental fines reached so far," the ministry said.
"Disadvantaged communities are more likely to be located near highways, where these harmful emissions are concentrated, so this agreement is critical to advancing our environmental justice agenda," said Michael Reagan, administrator of the U.S. Environmental Protection Agency (EPA). ”
Cummins Inc. said it expects to assume about $20 in the fourth quarter$400 million to settle regulatory claims related to the U.S. Department of Justice and the California Air Resources Board for nearly 1 million engines.
In a statement, Cummins Inc. said: "The company has not found any evidence of malicious behavior by anyone and has not admitted wrongdoing." "The formal settlement is subject to court approval and is expected to be made public as early as next month.
Cummins said it has recalled the 960,000 vehicles and will update its emissions control software. Previously, Cummins had already paid $59 million for the emissions recall.
Cummins first announced in April 2019 that it was reviewing its emissions certification process and compliance internally.
Cummins previously said U.S. regulators were reviewing Nissan Titan trucks from 2016 to 2019 and said it was developing new software calibration and hardware repair protocols and would recall the trucks.
Cummins has previously made a provision for $59 million in charges to cover the costs of the RAM and Titan recalls. Nissan has not yet commented.
Cummins' customers also include PACCAR and Daimler Trucks North America. It is expected to pay out about $19 in the first half of 2024$300 million in fees.
Jefferies said in a research note that the cost "is significant, but it does not affect normal business operations." "Cummins' stock price was up 2 in the early afternoon3%, to 238$47.
In August 2022, the U.S. operations of Italy's Fiat Chrysler Automobiles (now a subsidiary of Stellantis) pleaded guilty to conspiracy and paid nearly $300 million to settle the U.S. Department of Justice's multi-year diesel emissions fraud investigation. FCA US LLC was also sentenced to three years of organizational probation.
Volkswagen paid $14. in the United States in 2017The $500 million civil penalty follows the German automaker's disclosure in 2015 that it had installed cheating devices in 11 million cars worldwide, using sophisticated software only to reduce emissions during emissions testing. Big.
In total, the company has paid more than $20 billion in U.S. civil and criminal lawsuits over emissions scandals.
Compiler: Global Auto Trade Network Stevie).