WASHINGTON Dec 20 The U.S. Environmental
Protection Agency said on Tuesday the cost of a settlement with
Volkswagen AG 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)