BusinessPostCorner.com
No Result
View All Result
Sunday, July 19, 2026
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Toyota unit to settle emissions scandal for $1.6bn

January 17, 2025
in Business
Reading Time: 2 mins read
A A
0
Toyota unit to settle emissions scandal for .6bn
ShareShareShareShareShare

According to the US Justice Department, Hino submitted “false and fraudulent” emission testing and fuel consumption data in a “criminal conspiracy” that allowed it to import and sell its engines in the United States.

“Hino Motors engaged in a years-long scheme to alter and fabricate emissions data in order to get a leg up over its competitors and boost their bottom-line,” said FBI Director Christopher Wray.

“To further this fraudulent scheme, Hino violated laws and regulations intended to protect American’s health and the environment.”

On top of the five-year diesel engine import ban, Hino has also committed to a compliance and ethics plan during that period.

“We take this resolution seriously and will ensure that the field fix, the Environmental Mitigation Program, and further strengthening of our compliance system … are implemented,” said Satoshi Ogiso, Hino’s chief executive and president in a statement.

“We deeply apologize for the inconvenience caused to our customers and stakeholders.”

The US Environmental Protection Agency said Hino has also agreed to recall some infringing heavy-duty trucks and to replace marine and locomotive engines across the country to offset excess air emissions.

In order to cover costs resulting from its legal problems, Hino said that in its second quarter financial results announced in October, it reported an extraordinary loss of 230 billion yen (£1.2bn, $1.48bn).

In the last decade, several car makers admitted to lying about the emissions produced by their diesel engines.

In what has become known as the dieselgate scandal, brands throughout the Volkswagen corporate empire were implicated, including Audi, Porsche, Seat and Skoda as well as Volkswagen itself.

Volkswagen has spent more than 30 billion euros (£25bn, $30.9bn) paying fines, issuing recalls and compensating its customers.

Credit: Source link

ShareTweetSendPinShare
Previous Post

China’s GDP growth slows, even after Beijing ramped up stimulus to reignite a stumbling economy

Next Post

China’s GDP growth hits 5% target for 2024

Next Post
China’s GDP growth hits 5% target for 2024

China’s GDP growth hits 5% target for 2024

Volunteering at Sheffield food charity saved me from loneliness

Volunteering at Sheffield food charity saved me from loneliness

July 17, 2026
Mitsubishi takes over .5B in U.S. natural gas fields, deepening Japanese bet on LNG and AI boom

Mitsubishi takes over $7.5B in U.S. natural gas fields, deepening Japanese bet on LNG and AI boom

July 15, 2026
LinkedIn: Why AI is changing work, and how workers can prepare

LinkedIn: Why AI is changing work, and how workers can prepare

July 13, 2026
Trump reinstates Iran port blockade and vows 20% charge on cargo passing through Hormuz

Trump reinstates Iran port blockade and vows 20% charge on cargo passing through Hormuz

July 13, 2026
Tax Fraud Blotter: Win some, lose some

Tax Fraud Blotter: Win some, lose some

July 17, 2026
Sam Altman ChatGPT AI Predicts Insane SpaceX Stock Price by End of 2026

Sam Altman ChatGPT AI Predicts Insane SpaceX Stock Price by End of 2026

July 13, 2026
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Box office debut for ‘Odyssey’ tops ‘Oppenheimer’ and is Nolan’s best since ‘Dark Knight Rises’

Box office debut for ‘Odyssey’ tops ‘Oppenheimer’ and is Nolan’s best since ‘Dark Knight Rises’

July 19, 2026
Thames Water lenders preparing legal challenge to potential nationalisation

Thames Water lenders preparing legal challenge to potential nationalisation

July 19, 2026

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!