A number of vehicle manufacturers in France were raided recently by investigators on the behalf of the French government over concerns of emissions cheating.
The raids hit hard for Renault in particular whose share price dropped almost 22 percent after it was revealed the automaker was being investigated, though it has since been revealed that no fraud in regards to emissions cheating was discovered. Some models were found to exceed emissions limits, however.
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The investigation was ordered by French Energy Minister Segolene Royal. At a press conference, which was attended by Reuters, Royal said that there was no sign of fraud at any of the automakers investigated apart from the Volkswagen Group, whose own emissions cheating prompted the investigation.
The investigation comes at a time when the French government is looking to reduce its stake in Renault from 19.7 percent to 15 percent. It was only last year that the government increased its stake in order to prevent a deal that would deepen the ties between Renault and its alliance partner Nissan, at the cost of control of senior investors which includes the government.
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Back in the United States, the California Air Resources Board this week rejected VW’s proposals for fixing 2.0-liter diesel engines fitted with the “defeat device” emissions cheating software. The proposals were rejected on the grounds that they didn’t include enough information to allow CARB to fully evaluate the solution and its impacts on vehicle performance, safety and emissions. The EPA agreed with CARB's decision and said VW had not submitted an "approvable recall plan" to bring the affected vehicles into compliance.
You can follow our ongoing coverage on the diesel emissions scandal at this link.
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