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Investigators Raid VW Headquarters, Residences
Three prosecutors and a team of about 50 police officers have swept through Volkswagen AG's German headquarters in search of evidence about VW's admitted cheating on diesel emission tests, Automotive News Europe reports.
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Three prosecutors and a team of about 50 police officers have swept through Volkswagen AG's German headquarters in search of evidence about VW's admitted cheating on diesel emission tests, Automotive News Europe reports.
The group also raided private residences in Wolfsburg, according to the online newspaper.
VW, which is conducting an internal investigation into the scandal, says it won't know for "some time" who was responsible and what the company will do to bring affected diesels into compliance with pollution standards. Critics say VW's tradition of handling problems internally, coupled with its choice of long-time executives to become its new chairman and CEO, could hamper the company's response.
Meanwhile, analysts have estimated VW could face €35 billion or more in fines and the cost of recalls, repairs and lawsuits spawned by some 11 million cheater diesels sold worldwide over the past seven years.
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