VW to Pay About $10.2B to Settle Emissions Claims

German automaker Volkswagen Group is expected to deliver a $10 billion settlement to cover government fines and compensate owners of vehicles fitted with software that cheated emissions standards, according to multiple reports.

Volkswagen’s deal, which is due to be filed in a federal court by Tuesday, includes payments of up to $7,000 to owners of vehicles affected by the scandal, according to Bloomberg and Associated Press reports, citing anonymous sources.

The company confirmed in April that it had reached a sweeping settlement with U.S. and California regulators and a class-action group of consumers over nearly 500,000 2-liter diesel cars that were rigged to dodge emissions tests.

U.S. District Judge Charles Breyer said at the time that the deal would also involve an option for consumers to sell back their vehicle or get it repaired.

Details of how the repair plan may unfold have not yet been released.

Bloomberg reported that Volkswagen is not expected to be able to make all of the cars compliant with nitrogen oxide emissions standards.

A Volkswagen spokeswoman based in the U.S. declined to comment on Thursday.

Breyer issued a gag order and has scolded parties for leaking previous details to the media, which included news reports in April of $5,000 in compensation for VW owners.

The settlement is also expected to include a deal in which Volkswagen will fund “green automotive” initiatives and environmental remediation efforts, Breyer said.

Volkswagen has been negotiating the settlement with regulators, consumer lawyers and mediator Robert Mueller, former director of the FBI, whom Breyer appointed to help reach a deal.

Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.

Source: www.usatoday.com www.usatoday.com

Be the first to comment on "VW to Pay About $10.2B to Settle Emissions Claims"

Leave a comment

Your email address will not be published.


*