European Union imposed a fine of Rs 4237.62 crore
The European Union has exposed a major scam in the automobile industry, with a fine of $ 495 million (about Rs 4,237.62 crore) on 15 major car manufacturer companies and European Automobile Manufacturers Association (ACEA). The fine has been imposed for the operation of a long-term cartel attached to the ‘End-off-Life’ (ELV) vehicle recycling.
Mercedes-Benz revealed!
Major companies involved in the scam include Mercedes-Benz, Stelantis (including Opel), Mitsubishi, and other companies like Ford. Mercedes-Benz first revealed this cartel and in return he was exempted from a fine of 35 million pounds (about Rs 323.34 crore).
This scam lasted for 15 years!
The fine has been imposed after an European Commission investigation, which found these companies involved in anti-competition agreements for 15 years and immoral activities related to recycling of ELV vehicles.
