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VW Will Reveal Details about Engine Scandal Probe This Week
Volkswagen AG says it plans on Thursday to announce preliminary findings of its internal investigation into 11 million diesel engines it rigged over the past six years to cheat government emission tests.
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Volkswagen AG says it plans on Thursday to announce preliminary findings of its internal investigation into 11 million diesel engines it rigged over the past six years to cheat government emission tests.
The number of employees apparently involved has expanded from VW’s initial estimate of only a handful of people. Several high-level engineering executives have been suspended, but the company so far has not directly accused anyone of wrongdoing.
VW faces as much as €40 billion in repair costs, regulatory fines and lawsuits associated with the original diesel scandal, a second involving its V-6 diesels and a third disclosure that it also doctored fuel economy tests for another group of engines.
Friday’s report may update VW’s own cost estimate. Last week the company said it believes it can fix most of the 11 million diesels with a relatively simple software update. Analysts have been describing VW’s cost estimates as significantly understated.
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