Daimler AG has confirmed that it is conducting an “internal investigation regarding its certification process related to exhaust emissions in the United States”. This action follows a request from the US Department of Justice (DOJ). As a result the company says it will “investigate possible indications of irregularities and of course take all necessary actions.”
In what is being interpreted as fallout of the Volkswagen (VW) emissions scandal, Schaeffler significantly reduced its initial public offering (IPO) after delaying in light of the VW revelations. VW accounts for more than 10 per cent of sales at Schaeffler, which makes ball bearings for products ranging from tools to airplanes.