Share Name Share Symbol Market Type
Stellantis NV BIT:STLA Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.008 -0.06% 12.42 12.434 12.44 12.766 12.29 12.482 9,393,955 16:35:56

Stellantis's Citroen Charged in French Emissions Fraud Probe

10/06/2021 5:14pm

Dow Jones News

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   By Mauro Orru 

French authorities on Thursday brought preliminary charges against car maker Automobiles Citroen SA on suspicion of consumer fraud in connection with the diesel-emissions scandal.

A spokesman for Stellantis NV, which owns the subsidiary, said Citroen will have to pay a bail of 8 million euros ($9.7 million), and provide a bank guarantee of EUR25 million to cover potential damages. He said the charges are "in connection with the sale of Euro 5 diesel vehicles in France between 2009 and 2015."

The announcement comes after preliminary charges were also filed for Stellantis subsidiary Automobiles Peugeot SA, rival French car maker Renault SA, and Volkswagen AG.

Bringing preliminary charges in the French judicial system means prosecutors have enough evidence to deepen an investigation and a judge can then either order the company to stand trial or dismiss the charges.

"Automobiles Citroen SA is also in the process of assessing its defense options in this respect," the spokesman said.


-Julien Marion contributed to this article


Write to Mauro Orru at; @MauroOrru94


(END) Dow Jones Newswires

June 10, 2021 12:01 ET (16:01 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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