"The fine notice provides for a fine totaling EUR 535 million, consisting of a penalty in the amount of EUR 4 million for a negligent breach of duty by Porsche AG and a levy of economic benefits in the amount EUR 531 million. The amount of the levy share depends largely on the profitability of the company," Porsche said in a statement.
The company specified that the fine had been imposed "in connection with deviations from regulatory requirements for certain Porsche vehicles" starting from 2009. The deviations, in turn, occurred partly due to "negligent breaches of supervisory duties … in a department of the division for development several levels below the executive board in the exhaust gas-related testing of vehicles in relation to their regulatory conformity," according to the prosecutors' conclusions.
Porsche noted that the fine notice marked the end of the Stuttgart prosecutors’ administrative offense proceedings against it, being "another important step towards ending the diesel topic."
It also reiterated its commitment to completely withdraw from diesel and focus on the "development of cutting-edge gasoline engines, high-performance hybrid powertrains and electric mobility."