Mexican Media Brands
Audi Says Its Diesel Cheating Costs Won’t Exceed €2 Billion
Volkswagen AG’s Audi unit says the €2 billion ($2.5 billion) it set aside for penalties related to its diesel emission cheating should be sufficient to cover all costs.
#economics
Share
Volkswagen AG’s Audi unit says the €2 billion ($2.5 billion) it set aside for penalties related to its diesel emission cheating should be sufficient to cover all costs.
Finance chief Alexander Seitz tells reporters that Audi has spent about €1.2 billion of the total to date. He says the company expects to disburse the remaining €800 million ($987 million) by the first quarter of 2019.
The funds are being used to pay for fines, repairs, vehicle buybacks and restitution involving to some 80,000 of its 3.0-liter V-6 diesels that were rigged to evade emission laws. German prosecutors are continuing to investigate Audi’s role in the VW Group cheating, which involved 11 million 4- and 6-cylinder diesels worldwide.
RELATED CONTENT
-
On Electric Pickups, Flying Taxis, and Auto Industry Transformation
Ford goes for vertical integration, DENSO and Honeywell take to the skies, how suppliers feel about their customers, how vehicle customers feel about shopping, and insights from a software exec
-
On Fuel Cells, Battery Enclosures, and Lucid Air
A skateboard for fuel cells, building a better battery enclosure, what ADAS does, a big engine for boats, the curious case of lean production, what drivers think, and why Lucid is remarkable
-
Jeeps Modified for Moab
On Easter morning in Moab, Utah, when the population of that exceedingly-hard-to-get-to town in one of the most beautiful settings on Earth has more than doubled, some people won’t be hunting for Easter eggs, but will be trying to get a good look at one of the vehicles six that Jeep has prepared for real-life, fast-feedback from the assembled at the annual Easter Jeep Safari.
