The US Department of Justice just fined Volkswagen's $4.3 billion, and the Environmental Protection Agency (EPA) accused the Fiat Chrysler Group (FCA) of using the software to disable monitoring equipment, even though it only affected about 10 vehicles since 2014. Tens of thousands of trucks and recreational vehicles are far less than Volkswagen, but the fine is expected to be as high as $4.6 billion, causing FCA's global share price to plummet.
At present, the US Department of Justice has launched an investigation to determine whether the EPA's allegations are factual, and the FCA executives still denied this and said that this is a problem with some software rather than deliberately deceiving monitoring equipment.
FCA CEO Sergio Marchionne responded with great anger to the government's allegations. He stressed at the press conference that the company never designed any software specifically for testing. The real problem is that the software works, FCA will eliminate environmental protection through software updates. The department's doubts. He pointed out that in fact, the EPA should first inform the company to solve the problem itself, instead of directly accusing it and making it public. This is very unfair to the FCA and is the least understandable to him.
All of this may be due to the fact that Volkswagen's case is too big, so the FCA is also associated with software fraud.
Marchionne also said that regulators should not be hostile to all automakers. Most people will not violate the law at all, not all companies will be criminals.
FCA said it will continue to sell diesel engines manufactured in 2016. The EPA recently tested all of the automaker's engines, and regulators pointed out that there are hidden software in the FCA's engine, at least eight of which can affect inspection.
EPA officials said that the FCA is obligated to disclose the information, but the official has not yet positioned it as illegal software.
In his interview, Marchionne stressed that some software in the FCA design does not start when it is normal, because they are doing special tests or extreme situations to protect the engine from damage. This is because this is not a problem that will be encountered during normal use. Of course, this may bring some doubts. However, it is too savage that the company is ready to update the software to solve the EPA's question.
He stressed that the company has found a solution that will definitely improve this year and comply with the government's specifications.
FCA now hopes that the new EPA executives will deal with this issue after Trump takes office. The company statement stated that it will work with the new government to solve the problem fairly and peacefully. Trump also just praised FCA's plans to make new investments in the US and create 2,000 jobs at his first press conference.
Marchionne pointed out that since September 2015, the company has been negotiating with the EPA. He believes that the software has not violated the law, but now the EPA's announcement is almost smashed. After the news broke, FCA's US-listed shares fell 10%, while European-listed stocks fell 16%.
Although Chrysler had previously shown to Trump, Marchionne is still worried about its policy of raising border taxes. He believes that this has a considerable impact on the company's marketing strategy. I hope that the benefits of lowering the tax rate can really make up for this. FCA's goal for the next seven years is to get the Jeep into the global market, so it must be more careful and avoid being confined to one place.
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