Daimler settles its emissions scandal lawsuit for nearly $3 billion

Daimler settles its emissions scandal lawsuit for nearly $3 billion

Mercedes-Benz parent Daimler will pay close to $3 billion to settle the US fallout from its diesel emissions scandal. The German automaker said it expects its recent settlement with American authorities, including the Environmental Protection Agency (EPA), Justice Department and California Air Resources Board (CARB), to cost approximately $1.5 billion. It will also pay out about $700 million to settle with owners and a further "three-digit-million EUR amount to fulfill requirements of the settlements.

A spokesperson for CARB told Reuters the settlement "will reach $1.5 billion and affects 250,000 vehicles nationwide." The agency went on to say it will share more details after US agencies file consent decrees in court, which should happen sometime in mid-September.