BMW to pay $50,000 for leaking coolant tank

BMW plans to pay a $50-million fine for a water leak that caused more than $500 million in damage to the company’s cooling systems.

The Bavarian automaker will pay the fine in a settlement with the Environmental Protection Agency, EPA Administrator Lisa Jackson announced Monday.

The leak, which caused an estimated $100 million in damages, was discovered in 2011 and was the subject of an investigation by the EPA.

The agency said the leak is the first of its kind in the country and was “an example of a company failing to take proper measures to prevent and correct an environmental risk.”

The agency has also set up an independent investigation committee to review the spill, Jackson said.

The committee will examine whether BMW has taken appropriate steps to prevent future leaks.

The company said the water leaking from a tank on a BMW cooling system at the company headquarters in Wolfsburg, Germany.

The tank was used for cooling BMW’s i3 electric sedan.

BMW says the tank was made of stainless steel and was designed for a high-flow water system, which requires the use of coolant that is not always available.

The EPA said it was not aware of any other cases of the leak occurring at BMW facilities, and that the investigation will focus on the company and the water system.