Mexican Media Brands
U.S. Judge Approves VW’s $14.7 Billion Diesel Settlement
U.S. District Court Judge Charles Breyer has approved Volkswagen AG’s $14.7 billion agreement to settle claims over 475,000 vehicles powered by 4-cylinder diesel engines that were rigged to evade emission standards.
#legal
Share
U.S. District Court Judge Charles Breyer has approved Volkswagen AG’s $14.7 billion agreement to settle claims over 475,000 vehicles powered by 4-cylinder diesel engines that were rigged to evade emission standards.
The package include as much as $10 billion to compensate owners between $5,100 and $10,000 each and either fix or buy back their vehicles. About 340,000 owners have already opted to join the program. VW also will pay $2.7 billion into an environmental remediation fund and $2 billion to fund national programs that promote zero-emission vehicles.
VW separately has agreed to spend about $2 billion more to compensate dealers and pay state-level fees. Yet to be resolved are similar emission cheating issues with 85,000 V-6 diesels sold by Audi, Porsche and VW in the U.S.
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 Audi's Paint Colors, the Lexus ES 250, and a Lambo Tractor
From pitching a startup idea to BMW to how ZF is developing and using ADAS tech to a review of the Lexus ES 250 AWD to special info about additive at Toyota R&D. And lots in between.
-
On Military Trucks, Euro Car Sales, Mazda Drops and More
Did you know Mack is making military dump trucks from commercial vehicles or that Ford tied with Daimler in Euro vehicle sales or the Mazda6 is soon to be a thing of the past or Alexa can be more readily integrated or about Honda’s new EV strategy? All that and more are found here.
