(MENAFN- Asia Times)
German automakers, including Volkswagen, Audi, Porsche, BMW and Daimler, met in secret to share technology, agree on component costs and choice of suppliers, according to a report released by German publication Der Spiegel over the weekend. Shares of the companies dropped on Friday after details of the allegations trickled out early, the Financial Times .
The most damning of the accusations concerns an alleged agreement that all of the makers would use a smaller, cheaper AdBlue urea solution tank, which would not sufficiently cleanse emissions.
The allegations threaten to broaden distrust of the German industry, following a revelation that Volkswagen was using illegal software to understate emissions in tests, which resulted in US$24 billion in penalties.
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