Reuters logo
U.S. EPA estimates new VW diesel settlement worth about $1 billion
December 20, 2016 / 8:46 PM / 9 months ago

U.S. EPA estimates new VW diesel settlement worth about $1 billion

WASHINGTON (Reuters) - The U.S. Environmental Protection Agency said on Tuesday the cost of a settlement with Volkswagen AG (VOWG_p.DE) covering 80,000 polluting 3.0-liter vehicles is about $1 billion, but does not include expected additional compensation for owners.

Cynthia Giles, EPA assistant administrator, estimated that the costs of buybacks, fixes and diesel offsets were about $1 billion, including $225 million going into a trust fund to offset excess diesel emissions. Volkswagen also agreed to pay California $25 million and has reached “substantial agreement” toward compensating owners of the polluting vehicles, a federal judge said on Tuesday.

Reporting by David Shepardson; Editing by Will Dunham

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below