Mexican Media Brands
Volvo Trucks Braces for $778 Million Hit on Emission Fix
AB Volvo is setting aside 7 billion kronor ($778 million) to cover the potential costs of fixing a flaw that allows some of its trucks to emit too much nitrogen oxides.
#regulations
Share
AB Volvo is setting aside 7 billion kronor ($778 million) to cover the potential costs of fixing a flaw that allows some of its trucks to emit too much nitrogen oxide.
The company says it will take the charge in the fourth quarter of 2018. The negative impact on cash flow will begin this year and “ramp up in the coming years,” according to the truckmaker.
Volvo warned in October that an emission control component in certain diesels sold worldwide can deteriorate prematurely and allow NOx levels to exceed market standards, especially in Europe and the U.S. The company noted that the flaw is not a safety issue that emphasizes that the affected trucks do meet regulatory standards initially.
Volvo arrived at the estimated cost to remedy the problem by considering testing, analysis and achieving agreement with regulators on an effective repair. But it said in October that the degradation doesn’t affect all engines and vehicles in the same way.
RELATED CONTENT
-
Carmakers Ask 10 States to Help Bolster EV Sales
Carmakers are asking for more support for electric cars from states that support California’s zero-emission-vehicle goals, Automotive News reports.
-
Self-Driving Chevy Bolt Ticketed for Driving Too Close to Pedestrian
Police in San Francisco ticketed the backup driver in a self-driving Chevrolet Bolt for allowing the car to drive too close to a pedestrian in a crosswalk in San Francisco.
-
Seniors, Pollution and Exercise
People who are opposed to stricter emissions regulations, especially those who are over 60, may be interested in learning about a research study led by the Imperial College London and Duke University, funded by the British Heart Foundation—even healthy +60 people.