FCA US LLC Reaches Agreement with U.S. Attorney’s Office to Resolve Diesel Emissions Investigation

Rhea-AI Summary

FCA US LLC has reached a settlement regarding a U.S. Department of Justice investigation involving approximately 101,482 vehicles equipped with EcoDiesel engines. The agreement includes a guilty plea, a fine of $96.1 million, and the forfeiture of $203.6 million in gains. Consumer claims related to the affected vehicles have been resolved, and no additional recalls are necessary. FCA US had previously accrued approximately €266 million ($301 million) for this matter, covering the penalties outlined in the plea agreement.

Positive

• Settlement resolves a major legal issue without requiring additional recalls.
• Sufficient funds previously accrued to cover the settlement costs.

Negative

• Guilty plea and significant penalties may impact public perception.
• Total financial liabilities amount to $299.7 million ($96.1 million fine + $203.6 million forfeiture).

FCA US LLC Reaches Agreement with U.S. Attorney’s Office to Resolve Diesel Emissions Investigation

AMSTERDAM, June 3, 2022 – FCA US LLC, a wholly owned subsidiary of Stellantis N.V., issued today the following press release.

FCA US LLC (FCA US) has agreed to a settlement that resolves a U.S. Department of Justice criminal investigation involving approximately 101,482 vehicles from model-years 2014 to 2016 equipped with second-generation EcoDiesel V-6 engines. The agreement, which is subject to U.S. federal court approval, includes a guilty plea, a fine of $96.1 million, and the forfeiture of $203.6 million in gains derived from the conduct. Consumer claims related to the subject vehicles have already been resolved, and no additional recalls are required. As described in Stellantis N.V.'s 2021 financial disclosures, approximately €266 million ($301 million) was previously accrued related to this matter, which is sufficient to cover the forfeiture and penalty imposed by the plea agreement.

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About Stellantis

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep_®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

	@Stellantis		Stellantis		Stellantis		Stellantis
For more information, contact:   communications@stellantis.com www.stellantis.com

Attachment

• 20220603_FCA US LLC Statement_EN2

FAQ

What is the recent settlement FCA US LLC has reached?

FCA US LLC has agreed to a settlement resolving a Department of Justice investigation involving 101,482 EcoDiesel vehicles with a guilty plea and a total financial impact of approximately $299.7 million.

How much is FCA US fined in the recent agreement?

FCA US has been fined $96.1 million as part of the settlement agreement.

What does the settlement mean for affected EcoDiesel vehicle owners?

Consumer claims related to the EcoDiesel vehicles have been resolved, and no additional recalls are required as part of the settlement.

How much money was previously accrued for the diesel emissions settlement?

Approximately €266 million ($301 million) was previously accrued by FCA US, which is sufficient to cover the settlement costs.