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.
The nearly 6 million GM vehicles that violated emissions standards include large SUVs and pickup trucks, such as the Chevrolet Silverado.
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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If karaoke singing at home is not in compliance with regulations, individuals can be fined up to 160 million Vietnamese dong.
Fixing nearly $3 billion in tax revenue, DRC plans to hold AGM at the end of April.
Da Nang Rubber Company (DRC) has been fined and reclaimed a total of nearly VND 3.9 billion in connection with tax declaration discrepancies, of which DRC has already fully paid nearly VND 3 billion to the state budget as of January 16, 2024.
Low-carbon economic development: The “must-haves” for achieving a circular economy.
With a commitment to achieving net-zero emissions in Vietnam by 2050 and a commitment to combating deforestation in accordance with the EU Forest Law Enforcement, Governance and Trade (FLEGT) regulations by the end of 2024, we aim to move towards a low-carbon economy, paving the way for circular economic development for businesses.
Hai Duong: Fines imposed on businesses for occupying nearly 10,000m2 of land in the urban area for constructing a sports center
Thành Đông Real Estate Investment Joint Stock Company has been fined 400 million VND for illegally occupying approximately 8,783.0 square meters of non-agricultural land in the newly developed area in the South of Hai Duong city to construct the Liên Hồng Sports Center without completing the land leasing procedure.
TTC Land (SCR) penalized and fined nearly 2.3 billion VND
TTC Land (SCR) – the real estate company owned by tycoon Dang Van Thanh has recently been fined and had nearly 2.3 billion VND in taxes reclaimed.
