Volkswagen AG has agreed to a $1 billion settlement to fix or buy back another 80,000 polluting diesel vehicles sold in the United States as the German automaker took new steps to put its emissions cheating scandal behind it. Hayley Platt reports.
Another corner turned for VW. It will pay $1 billion to fix or buy back another 80,000 polluting diesel vehicles sold in the U.S. The German car maker has now agreed to spend as much as $17.5 billion in the States to resolve claims for owners and regulators. Hinrich Woebcken- the CEO of Volkswagen Group in the States - said the latest settlement was an important step towards "making things right for our customers." It was announced by a court in San Francisco. The judge in the case also said the German engineering firm which produced the software for the VW diesels had agreed in principle to settle civil allegations made by owners. But Robert Bosch accepts no liability and did not admit to the lawsuit's allegations. That settlement is expected to be around $300 million - small change compared to VW's final bill. There's no definite figure on that yet - the highest price possibly being the damage to the auto maker's global business and reputation.