BusinessPostCorner.com
No Result
View All Result
Saturday, July 18, 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

‘We absolutely screwed up’: Vance blames Bondi for the miscommunication around the Epstein files

‘We absolutely screwed up’: Vance blames Bondi for the miscommunication around the Epstein files

July 16, 2026
IMA unveils Management Accounting Competency Index

IMA unveils Management Accounting Competency Index

July 14, 2026
The financial winners and losers from the World Cup

The financial winners and losers from the World Cup

July 16, 2026
Mitch McConnell ends speculation about his health, revealing a fall led to his hospitalization

Mitch McConnell ends speculation about his health, revealing a fall led to his hospitalization

July 12, 2026
The great reinvention of Hunter Biden

The great reinvention of Hunter Biden

July 12, 2026
Perplexity AI Predicts XRP Will Hit This XRP Price by End of 2026

Perplexity AI Predicts XRP Will Hit This XRP Price by End of 2026

July 14, 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

Landon Donovan: ‘There is zero chance I could have played club soccer’ because of high costs

Landon Donovan: ‘There is zero chance I could have played club soccer’ because of high costs

July 18, 2026
Iran strikes Saudi Arabia for first time in months

Iran strikes Saudi Arabia for first time in months

July 18, 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!