According to Reuters, between 2012 and 2018, General Motors (GM) sold approximately 4.6 million large pickup trucks and SUVs, along with 1.3 million mid-size SUVs. An investigation by the United States Environmental Protection Agency (EPA) revealed that these vehicles emitted 10% more CO2 than the company had advertised.
While the EPA did not mention recalling the vehicles that exceeded emission standards, GM will have to pay a fine of $145.8 million (over VND 3,700 billion).
Additionally, the leading American automobile manufacturer has agreed to forfeit carbon credits worth around $100 million that they had purchased a decade ago. According to The New York Times, the market value of these credits has increased significantly, and they are now worth an estimated $4.6 billion.
GM, for its part, has not admitted to any wrongdoing and maintains that all its vehicles comply with emission regulations. Spokesperson Bill Grotz attributed the issue to a change in the EPA’s testing procedure in 2016.
Nonetheless, the company believes that paying the fine is the best course of action to swiftly resolve the matter. GM has also committed to reducing vehicle emissions and working towards the US government’s automotive electrification goals.
This is the second consecutive year that GM has had to pay hundreds of millions of dollars in fines for violations. In June 2023, GM paid $128.2 million in penalties for violating fuel economy standards for the 2016 and 2017 model years.
Notably, the corporation owns renowned brands such as Chevrolet, Buick, GMC, and Cadillac, and had never been fined in the 40-year history of the fuel economy standards program until last year.
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