Renault Shares Tumble After Anti-Fraud Authority Accusations Of "Cheating" On Emissions Tests
By Tyler Durden
Yesterday we sarcastically noted “they are all at it” when Fiat Chrysler was slammed by the EPA for emissions cheating, and now get further confirmation of the farce as The FT reports, French authorities have started a preliminary investigation into Renault amid suspicion the company may have “cheated” to conceal abnormal emissions of pollutants from some of its diesel engines.
The government commission’s report over the summer found that nitrogen oxide emissions for many Renault models went well beyond their official limit under “normal” driving conditions, by a factor of more than 10 in the case of some models.
Renault share tumbled on the headlines…
As The FT details, the decision, made on Thursday, comes after France’s independent anti-fraud authority referred the carmaker to state prosecutors in November, after completing its own investigation.
Three judges were appointed to lead the investigation, the Paris prosecutor said in a text message, into whether they “made merchandise dangerous for human health.”
Last year, three Renault sites in France were raided by authorities as part of a sprawling national investigation linked to the Volkswagen emissions scandal, sparking fears that the emission-rigging case was spreading across Europe.
The French government, which owns 20 per cent of Renault, and the carmaker has denied using software to cheat emission testing, saying its models “conformed to the laws and norms in each market where they are sold.”
Source: Renault Shares Tumble After Anti-Fraud Authority Accusations Of "Cheating" On Emissions Tests
