Prosecutors in Germany have imposed a $1.2 billion fine as a result of Volkswagen over the company's diesel scandal.
The €1 billion ($1.2 billion) penalty was announced Wednesday by public prosecutors and the company, which said it was hoping to turn a page on emissions cheating.
The prosecutor said in a statement; "It is one of the highest fines ever imposed on a company in Germany."
The automaker said it accepted the penalty.
The company said in a statement;"Volkswagen (VLKAF) accepted the fine and it will not lodge an appeal against it.Volkswagen, by doing so, admits its responsibility for the diesel crisis."