BERLIN (Reuters) – Daimler has reached an agreement to settle U.S. proceedings relating to investigations into software to cheat diesel emissions tests that will result in costs of about $1.5 billion, the German carmaker said on Thursday.
The maker of Mercedes-Benz cars said it expects an impact on its free cash flow over the next three years as a result, with the main impact within the next 12 months.
Diesel vehicles have come under scrutiny in the United States since Volkswagen <VOWG_p.DE> admitted in 2015 to installing secret software on 580,000 U.S. vehicles that allowed them to emit up to 40 times legally allowable emissions.
(Reporting by Emma Thomasson; Editing by Susan Fenton)
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