Stellantis Unit Agrees To Pay $5.6M In California Emissions Probe

The state of California said a unit of Stellantis NV (NYSE:STLA), FCA U.S. will pay $5.6 million to resolve a violation of air quality regulations in California.
The California Air Resources Board (CARB) said there were 30,600 vehicles involved in the settlement, including 2012 – 2018 model Ram 1500, Jeep Grand Cherokee, and Dodge Durango.
The vehicles involved, Reuters reported, were fitted with 5.7L gasoline engines that purportedly did not comply with emission standards.
FCA will pay a $2.8 million civil penalty and $2.8 million to bring more electric school buses to schools in the South Coast Air Basin.
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FCA U.S. previously paid a $311 million civil penalty and paid over $183 million in compensation to more than 63,000 people as part of a class-action diesel lawsuit.
The latest settlement is FCA’s second with California in the past four years.
“This case is a perfect example of why CARB’s compliance testing is so important in protecting the state’s air quality and public health,” said CARB executive officer Steven Cliff.
Price Action: STLA shares are trading lower by 0.57% at $12.23 in premarket on the last check Friday.