VW sees 4-5 billion euros in outflows in 2018 due to dieselgate | Reuters

WOLFSBURG, Germany (Reuters) - Volkswagen expects cash outflows of 4-5 billion euros ($4.7-5.9 billion) next year in relation to the dieselgate emissions cheating scandal, the carmaker’s Chief Financial Officer Frank Witter told journalists on Monday.

Reuters December 11, 2017 22:34:10 IST
VW sees 4-5 billion euros in outflows in 2018 due to dieselgate | Reuters

VW sees 45 billion euros in outflows in 2018 due to dieselgate  ReutersWOLFSBURG, Germany (Reuters) - Volkswagen expects cash outflows of 4-5 billion euros ($4.7-5.9 billion) next year in relation to the dieselgate emissions cheating scandal, the carmaker’s Chief Financial Officer Frank Witter told journalists on Monday. A Volkswagen logo is pictured at the International Auto Show in Mexico City, Mexico November 23, 2017. REUTERS/Henry Romero“I am not at all relaxed with regard to the diesel issue,” Witter said. The figure is below the up to 17 billion euros in outflows expected this year. Dieselgate has so far cost the company more than 25 billion euros and contributed to a strategy shift in the sector towards electric vehicles, with most manufacturers having announced far-reaching investment packages. ($1 = 0.8482 euros)

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