Continental has announced that it has agreed to pay the €100 million fine imposed on it and its subsidiaries by the Hanover public prosecutor's office.

The authorities accused Continental of a 'negligent breach' of its supervisory obligations in connection with the supply of engine control units and software for engine control units.

In 2015, 'Dieselgate' hit the headlines, with Volkswagen suspected of concealing the true pollution levels of millions of its diesel cars.

At the time, Continental's former transmission division - which will become Vitesco Technologies in 2021 - was supplying equipment to Volkswagen. The equipment manufacturer thus found itself at the heart of the investigation.

Continental has indicated that it will not appeal.

It is important and in our own interest to put an end to these proceedings. We have made the issue of integrity our top priority, creating a new organizational structure and requiring intensive training for our employees. We are committed to this process and will continue to invest in the company's integrity', commented Olaf Schick, member of the Board of Directors for Integrity and Law

The fine will not have a significant additional impact on the results for the 2024 financial year, as a provision had been set aside for this purpose for several years.

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