Daimler To Pay $30M Penalty for Delayed Truck Recalls
January 01 2021 - 04:58AM
TipRanks
Daimler said Thursday that it agreed to pay a $30 million penalty
for failing to recall its vehicles in a timely manner and not
complying with reporting requirements. The US National Highway
Traffic Safety Administration (NHTSA) released a consent order that
includes both monetary and non-monetary provisions designed to
improve Daimler’s (DDAIF) compliance and safety practices. The
terms of the consent order require Daimler to make an upfront
payment of $10 million, an additional $5 million will be spent on
specific safety enhancing projects and the remaining $15 million
will be deferred and may become payable under specified
circumstances.
https://www.tipranks.com/news/daimler-to-pay-30m-penalty-for-delayed-truck-recalls