Convicted Volkswagen managers to appeal sentences, defence confirms
The four former Volkswagen managers convicted for fraud related to the German carmaker's diesel emissions scandal are set to appeal the verdict.
Defence lawyer Philipp Gehrmann on Monday said "the verdict is incorrect," hours after it was announced at the Braunschweig Regional Court.
Gehrmann said his client's sentence of two years and seven months in prison overshot the mark.
The massive case dates back to September 2015, when it was discovered in the United States that Volkswagen had installed software in its diesel cars to cheat on emissions tests.
The so-called "defeat devices" meant that the cars complied with nitrogen oxide limits during test conditions, but not when actually driven out on the road.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
Could Buying Tesla Stock Today Set You Up for Life?
Most of the value in Tesla lies in its robotaxi and full self-driving offerings. The company starts with a significant advantage over its competition, and is about to launch its robotaxi concept. Tesla is a speculative growth stock, but it has numerous advantages over the typical growth stock. These 10 stocks could mint the next wave of millionaires › For many investors, buying Tesla (NASDAQ: TSLA) has already set them up for life, but will that be true for anyone newly buying into the stock now? Here's a look at what you need to know before buying the stock. Tesla is an unusual stock, known to most investors primarily as the leading electric vehicle (EV) company, but that isn't the primary value driver of the stock. Indeed, if you look at Tesla solely as a car company, you would likely avoid the stock. Let's put it this way: Tesla currently trades at a price-to-earnings multiple of 192, compared to single-digit multiples at car companies like Ford Motor Company and General Motors. The valuation discrepancy doesn't stem from Tesla's superior profit margins or its leading position in the electric vehicle market. Instead, it comes down to Tesla being able to do something that rival car companies haven't yet done or have abandoned trying to do: launch a robotaxi service. General Motors has already abandoned robotaxi development, and Ford (which had planned to have a robotaxi service in place by 2021) ended its investment (alongside Volkswagen) in robotaxi company Argo AI in 2022. Volkswagen plans to launch its robotaxi service in 2026. So, if Tesla's valuation isn't justified in terms of being a highly successful electric vehicle company, then how should it be viewed? The following key points apply, and they make Tesla a highly attractive stock for the speculative end of your portfolio: The value in Tesla lies in its robotaxi business; this is not purely a car company stock, or even an electric vehicle stock, and its valuation reflects that. The reliance on robotaxi/full self-driving (FSD) makes it a speculative growth stock. Tesla's installed base of vehicles gives it significant advantages over Waymo and others. Tesla is not your average speculative growth stock; it holds significant advantages over typical growth stocks. The robotaxi concept and the FSD that powers it are potentially a huge earnings driver for Tesla. One of Tesla's most vocal and visible supporters, Cathie Wood's Ark Invest, which expected a valuation of $2,600 per share for Tesla in 2029, relies on a model that prescribes 88% of the company's value from robotaxis, compared to just 9% from EVs. The opportunity to earn recurring revenue from selling unsupervised FSD subscriptions to Tesla owners wanting to use their vehicles as robotaxis is massive, as is the potential to generate recurring revenue on a ride-per-mile basis from robotaxis. Moreover, Tesla plans to mass-produce its dedicated robotaxi vehicle, Cybercab, next year. That said, the robotaxi launch hasn't even taken place yet (it's scheduled for June 12 in Austin), and it will only be on a small scale initially. As such, Tesla is a speculative growth stock, an observation that suggests Tesla stock should be filed on a long list of highly speculative investments to consider on a rainy day. However, there are differences -- in fact, many differences -- between Tesla and typical growth stocks. First, speculative growth stocks are usually not established leaders in the core business that underpins their growth. The Model Y is not only the best-selling electric vehicle (EV) in the world, but it's also the best-selling car in the world. In other words, Tesla already has a compelling brand and is the market leader in the growth area of the auto market. Second, this is not a struggling small-cap stock desperately trying to establish brand recognition and promote its new technology to a sceptical marketplace. Waymo has offered a robotaxi service since 2018, and there is little doubt that consumers want to use robotaxis. Third, Tesla isn't a growth stock struggling with its finances and seeking a larger partner to invest, which would dilute existing shareholders' claims on future cash flows. A quick look at its most recent balance sheet reveals $37 billion in cash and equivalents, alongside $7.5 billion in debt and finance leases, resulting in a net cash position of $29.5 billion. Finally, Tesla's position as a cost-effective automaker with the capacity and scale to ramp up production and the vehicles on the road means it can produce robotaxis (whether Cybercab or existing Tesla models) to support growth, and it has a vast bank of data from Tesla vehicles to use to improve its FSD capability. All told, Tesla is speculative because its robotaxis haven't even been launched yet, there's a lot more certainty around the company than in most growth stocks. That makes it worth buying for the risk-seeking end of a portfolio. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $367,516!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,712!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $669,517!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 2, 2025 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends General Motors and Volkswagen Ag. The Motley Fool has a disclosure policy. Could Buying Tesla Stock Today Set You Up for Life? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 hours ago
- Yahoo
Driver dies after colliding with Maryland State Police cruiser on I-95 in Howard County; 3 injured
HOWARD COUNTY, Md. () — One person is dead and three people were hospitalized after five vehicles, including a Maryland State Police cruiser, were involved in a crash in Howard County early Sunday. Just minutes after 2 a.m., MSP troopers received a call for a trooper-involved crash in the area of Interstate 95 south, north of Maryland 100. At the scene, troopers learned that an on-duty MSP trooper was sitting in his unmarked patrol vehicle on the left shoulder of I-95 when, for unknown reasons, a Jeep Cherokee hit him, according to MSP. Police said the impact of the crash caused the Jeep to go into the roadway, where a GMC pickup truck, a Lincoln SUV and a Volkswagen struck it. The driver of the Jeep, who police have not yet identified, died at the scene, and a passenger from the vehicle was taken to the hospital for treatment. The driver of the GMC pickup truck was also hospitalized. Responders rescue 2 people from Potomac River in DC after boat overturns Medics took the trooper to the R Adams Cowley Shock Trauma Center. He has since been released, state police noted. Troopers arrested the driver of the Volkswagen, Brenton Passmore, 32, of Crofton, at the scene of the crash, charging them with suspected driving under the influence. As a result of the five-vehicle crash, lanes were closed for about four hours but have since reopened. The investigation into what exactly caused the crash remains ongoing. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
7 hours ago
- Yahoo
Buy This Insane Steam Punk Show Car
Read the full story on Backfire News If you're been on the hunt for a car like no other, check out this completely insane steam punk show car that just hit the market. While it looks like a movie prop or some weird art installation piece, it is in fact a running and driving automobile guaranteed to blow people away anywhere you take 'The Metamorphosis,' it was built Los Angeles artist Baron Margo and fabricator Jaime Martinez. To craft this creation, they used a 1984 Volkswagen van, transforming it into a steam punk masterpiece. You might have caught the episode of Jay Leno's Garage where this thing was featured and been floored at it back then. Now it could be sitting in your garage and you could be behind the steering wheel. The seller says the radically transformed VW runs 'good' and that it has a custom interior. We wish there were more photos of the inside since the only one included in the listing is through a window and it shows little. But we bet if you're serious about buying this ride, the seller could supply more. This is the kind of vehicle that will win at car shows and wow people everywhere you go. It will get strangers asking questions, even people who know literally nothing about cars. After all, how many times do you see something that looks like a steam punk submarine driving down the road? Nothing else out there looks like this original piece of art. While The Metamorphosis has a title, it's currently registered as non-operational. We don't know what it would take to register the thing where you live, so you might want to do some due diligence before making a purchase. See this car's listing for yourself here. Images via Ferdinand Metz/Facebook Marketplace