Audi CEO Rupert Stadler arrested in Germany

Audi CEO Rupert Stadler has been arrested in Germany as part of an investigation into emissions cheating, according to prosecutors in Munich.

The arrest comes one week after Germany imposed a €1 billion ($1.2 billion) penalty on Audi's parent company, Volkswagen (VLKAY), for rigging diesel engine emissions worldwide.

According to Reuters, Stadler was arrested because investigators saw the risk that he might seek to suppress evidence.

Volkswagen has admitted using special software to cheat on emissions tests, with nearly 11 million vehicles affected.