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News Daimler wants to settle US diesel lawsuits with billions in payment

20:51  13 august  2020
20:51  13 august  2020 Source:   de.reuters.com

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Frankfurt (Reuters) - Daimler wants its ongoing diesel litigation with authorities and civil plaintiffs with billions in the USA.

The automaker announced on Thursday that it had reached agreement in principle on the settlement of the various proceedings with various US authorities and the plaintiff representatives of a consumer class action lawsuit. For the settlements with the US authorities, Daimler expects costs of around 1.5 billion dollars, the estimated cost of settling the class action would be around 700 million dollars. Daimler estimates that additional expenses to meet the requirements of the comparisons will be in the mid three-digit million euro range.

The settlements, which the Board of Management and Supervisory Board of Daimler AG and Mercedes-Benz AG have already approved, are still subject to the final approval of the responsible authorities and courts.

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