Paris — Renault’s share price fell on Friday after Paris prosecutors said the group would be investigated for suspected "cheating" in emissions tests of diesel motors. Amid Volkswagen’s emissions scandal, independent French experts found dangerously high levels of emissions from diesel engines of several car makers, including Renault. Prosecutors ordered a probe into "cheating on key parts" and testing. Renault shares were trading 2.4% lower at €84.16 at about 11am GMT, having opened over 1% higher. They slumped more than 4% in initial reaction to the news. The probe comes after Fiat Chrysler fell foul of US environmental standards on Thursday. The company was charged with hiding software on diesel trucks which then spewed out excess emissions. The Italian-US company immediately denied the charges and pledged to work with president-elect Donald Trump’s administration to resolve the issue "fairly." Shock waves from Volkswagen’s "dieselgate" emissions scandal are still reverberating a...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.