Volkswagen emissions scandal: Dieselgate settlement to cost VW $ 15 million

Volkswagen AG has reached a settlement with the concerned U.S. authorities for its infamous dieselgate scandal. According to a Reuters report, the carmaker has agreed to keep aside $ 10.033 billion towards buybacks and fixes, $ 2 billion towards green energy funds and $ 2.7 billion to counter the effect of the diesel emissions.

As a part of the settlement, Volkswagen AG will buy back 85 per cent of its 475,000 vehicles powered by the 2.0 TDI engines which exceed the emission limits by June 2019. Additionally, vehicle owners will receive a…