Tuesday, June 28, 2016

Volkswagen Settles With U.S.

Details of Volkswagen’s U.S. diesel emissions settlement are here. The company will pay up to $10 billion to repair or buy back defective cars, along with $5 billion in other penalties and clean-air initiatives. The details of the settlement don’t provide a path for Volkswagen to rebuild credibility for its diesel engines but could give it a reason to accelerate its electric-car efforts. 

Criminal investigations are ongoing in the United States and Germany.