50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Stellantis unit to pay $4.2 million to resolve California emissions probe

Published 12/23/2024, 09:47 PM
Updated 12/24/2024, 05:46 AM
© Reuters. FILE PHOTO: The logo of Stellantis is seen on the company's building in Velizy-Villacoublay near Paris, France, March 19, 2024. REUTERS/Gonzalo Fuentes/File photo
STLA
-

By David Shepardson

(Reuters) -Stellantis unit FCA US agreed to pay $4.2 million to resolve a California investigation into excess emissions, the state said on Monday.

The California Air Resources Board (CARB) said the vehicles covered by the settlement for violations of air quality regulations include 2014 through 2016 Ram ProMaster 1500, 2500 and 3500 vehicles equipped with 3.0L diesel engines.

The state said the vehicles had an unapproved device that circumvented emissions control and resulted in nearly 55 tons of excess oxides of nitrogen being released into the air. Stellantis (NYSE:STLA) in 2022 paid a $5.6 million settlement to California for similar allegations involving gas-powered vehicles.

Stellantis did not immediately respond to a request for comment. The company agreed as part of the settlement to recall the vehicles to modify the emission control system to be compliant with state regulations.

The settlement includes a more than $2 million civil penalty that will go to the state's Air Pollution Control Fund and $2.1 million that will fund a project to provide incentives for ocean-going cargo vessels to slow down in certain areas during peak whale and ozone seasons to provide wildlife and air quality benefits.

© Reuters. FILE PHOTO: The logo of Stellantis is seen on the company's building in Velizy-Villacoublay near Paris, France, March 19, 2024. REUTERS/Gonzalo Fuentes/File photo

In a separate federal emissions probe, FCA US in June 2022 pleaded guilty to criminal conspiracy and agreed to pay about $300 million in a plea agreement to resolve a U.S. Justice Department diesel emissions fraud investigation.

In 2019, California settled with FCA over allegations it used "defeat device software" to circumvent emissions testing on more than 100,000 diesel vehicles nationwide. California received more than $78 million of the $500 million settlement.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.