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VW Gets Approval to Fix Another 1 Million Diesels in Europe
German regulator KBA has approved proposed repairs by Volkswagen AG to bring 1 million of the company’s diesel-powered cars into regulatory compliance.
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German regulator KBA has approved proposed repairs by Volkswagen AG to bring 1 million of the company’s diesel-powered cars into regulatory compliance.
Last year VW admitted it rigged 11 million of its diesels, including 8.5 million in Europe, to cheat emission tests. KBA so far has approved fixes for about 3.7 million of them. Most of cars in the new batch of recalls are Golf hatchbacks. KBA-sanctioned repairs are being accepted across the European market.
CEO Matthias Mueller announced the latest wave of repairs at a contentious VW annual meeting in Hanover. Disgruntled shareholders blamed much of the company’s problems on a lack of oversight by its supervisory board.
Some also complained that Chairman Hans Dieter Poetsch, who was chief financial officer when the cheating occurred, should not be overseeing VW’s investigation into the crisis. Declared Markus Dufner, managing director of the German Assn. of Ethical Shareholders, “You are a conflict of interest personified.”
Mueller, apparently eager to move past the task of fixing blame and meting out punishment, told shareholders, “What’s done cannot be done. What does lie in our power is ensuring we act in a responsible manner.”
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