Mexican Media Brands
VW Says Diesel Scandal Will Cost Another €4 Billion in 2018
Volkswagen AG—which so far has paid nearly €30 billion in penalties, repairs and restitution in its two-year-old diesel emission cheating scandal—estimates next year’s cost will drop to €4 billion-€5 billion ($4.7 billion-$5.9 billion).
#economics
Share
Volkswagen AG—which so far has paid nearly €30 billion in penalties, repairs and restitution in its two-year-old diesel emission cheating scandal—estimates next year’s cost will drop to €4 billion-€5 billion ($4.7 billion-$5.9 billion).
VW will pay out about €17 billion ($20 billion) in 2017. Still, Chief Financial Officer Frank Witter tells reporters he is “not at all relaxed” about the status of the scandal.
Witter did not explain the reason for the declining payout. But over the past few months the company has settled several outstanding diesel-related legal issues in the U.S., where the heaviest penalties have occurred.
RELATED CONTENT
-
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
-
Cobots: 14 Things You Need to Know
What jobs do cobots do well? How is a cobot programmed? What’s the ROI? We asked these questions and more to four of the leading suppliers of cobots.
-
Choosing the Right Fasteners for Automotive
PennEngineering makes hundreds of different fasteners for the automotive industry with standard and custom products as well as automated assembly solutions. Discover how they’re used and how to select the right one. (Sponsored Content)
