When “dieselgate” first broke late last year, Volkswagen set aside roughly $7.3 billion to pay for the scandal worldwide. Turns out, it might cost the automaker more than double that figure to settle — and that is just in the U.S.
Volkswagen is scheduled to file its emission-cheating settlement in court on Tuesday morning. The German carmaker is planning to buy back diesel-powered models from owners in the U.S. and also compensate them up to $10,000 a piece, “two people familiar with the negotiations” told Bloomberg. Read more…
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