Toyota's $1.6 Billion Emissions Fraud Settlement

Toyota Motor Corp's subsidiary, Hino Motors, has agreed to plead guilty and pay over $1.6 billion to settle violations related to an emissions fraud scheme. The settlement was reached with several U.S. government agencies, including the Justice Department, FBI, and Environmental Protection Agency.

Toyota Motor Corp's subsidiary, Hino Motors, is set to plead guilty in a major emissions fraud settlement with U.S. authorities, amounting to over $1.6 billion. According to a statement released by the U.S. Justice Department on Wednesday, the hefty settlement resolves criminal and civil violations.

Hino Motors, a Toyota unit, was accused of participating in a fraudulent emissions scheme, prompting coordinated investigations by the Justice Department, FBI, and Environmental Protection Agency. The subsidiary will face criminal penalties and multiple civil resolutions as part of the agreement.

The coordinated effort among U.S. government bodies underscores the significance of the case and reflects increasing scrutiny on corporate environmental compliance. This settlement marks one of the largest in automotive emissions cases in recent history.

(With inputs from agencies.)