On today’s episode of the Zacks Friday Finish Line podcast, Content Writer Ryan McQueeney and Editor Maddy Johnson take on this week’s biggest story: the resolution of Volkswagen’s emission cheating scandal and the start of similar scandal involving Fiat Chrysler.
First, the hosts talked about some other news the automotive industry. NVIDIA (NVDA) announced yet another foray into the self-driving car market with its new partnership with Mercedes-Benz, a subsidiary of Daimler AG (DDAIF). The partnership centers on an artificial-intelligence-based driver assistance function called “Co-Pilot.”
Find out more here: NVIDIA and Mercedes-Benz are Building AI-Powered Self-Driving Cars
Maddy and Ryan also mentioned Amazon’s (AMZN) recent pledge to create 100,000 new full-time, full-benefit jobs in the U.S. over the next 18 months. Jeff Bezos and company are citing the company’s need to rapidly expand its fulfillment centers as the main reason for the job growth.
Check out all the details: Amazon Pledges To Create 100,000 Full-Time U.S. Jobs By 2018
The hosts rekindled an old Friday Finish Line favorite with the news that CVS Health Corp. (CVS) is now selling a cheaper alternative to Mylan’s (MYL) EpiPen allergy medication. The new injector is produced by Impax Laboratories (IPXL). Listeners will of course remember the drama that surrounded Mylan and the pricing of its EpiPen injector for most of last year.
Find the full story here: CVS Debuts Cheap EpiPen Alternative
Finally, Maddy and Ryan addressed this week’s top story. German automaker Volkswagen agreed to a settlement with U.S. authorities that will see the company pay $4.3 billion in criminal and civil fines and issue a guilty plea related to its diesel emissions cheating scandal.
However, the emissions cheating scandals are not over for everyone. In fact, it’s just getting started for Fiat Chrysler (FCAU). Shares of Fiat Chrysler dropped more than 11.5% in morning trading Thursday after the U.S. Environmental Protection Agency (EPA) issued the company a notice of violation related to its use of software to manipulate emissions tests.
The EPA says that the allegation covers 104,000 vehicles, including 2014, 2015, and 2016 Jeep Grand Cherokees and Dodge Ram 1500 trucks with 3-litre diesel engines.
Maddy and Ryan tried to figure out what the heck is going on in the automotive business in regards to this whole emissions cheating thing!
Find more here: Fiat Chrysler Stock Plummets On Emissions Cheating Probe & Volkswagen Nears $4.3 Billion Emissions Scandal Settlement