Volkswagen Chief Executive Martin Winterkorn resigns
Volkswagen Chief Executive Martin Winterkorn has resigned following the revelation that the world’s largest carmaker (in terms of sales) had manipulated US diesel car emissions tests.
His resignation comes after the German carmaker admitted that it had deceived US regulator Environmental Protection Agency (EPA) in exhaust emissions tests by installing a device to give more positive results.
What is the issue?
- Volkswagen had cheated on emissions tests especially in its diesel cars in order to enhance their technical performances by trading off US environmental guidelines.
- Media has dubbed this manipulation scandal of diesel car emissions tests as Diesel Dupe.
- During the test cars were fitted with devices with manipulation software in cars with diesel engines that could manipulate the emissions norms.
- It is estimated that company has sold around 11 million vehicles worldwide by violating the environmental norms.
- The case has sparked a criminal investigation worldwide which could lead to legal action with financial fines for the auto giant.
Categories: Business & Economy Current Affairs 2017