Volkswagen AG and Robert Bosch agree to pay $1.6 billion to settle dieselgate scandal

Volkswagen AG has given consent to paying a minimum of $1.26 billion towards fixing or buying back around 80,000 vehicles powered by the 3.0-litre diesel engine which emit more NOx than the legally permissible limit. However, the carmaker could end up paying around $4.04 billion if the regulators don't approve the fixes for all vehicles. A Reuters report states that the settlement is yet to be approved by a U.S. judge.

As per the settlement, owners of VW vehicles with 3.0-litre diesel engines affected by the emissions scandal will receive a...


Published Date: Feb 01, 2017 05:14 pm | Updated Date: Feb 01, 2017 05:14 pm