US Attorney General Confirms $4.3 Billion Settlement with Volkswagen

Los Angeles, Volkswagen admits guilt and will pay $4.3 billion in a settlement with the US government over the German carmaker’s cheating on diesel emissions, US Attorney General Loretta Lynch said today.

The Attorney General held a press conference today to announce the settlement with Volkswagen. The German automaker’s board had met and agreed to $4.3 billion settlement to resolve the U.S. government’s civil and criminal investigations into the German automaker’s diesel emissions cheating. The company formally admitted to criminal wrongdoing in its diesel-emissions cheating in order to proceed with the settlement procedures.

the Environmental Protection Agency (EPA) found that many VW cars being sold in America had a defeat plugin in its diesel engines that could detect when they were being tested, changing the performance accordingly to improve results. The German car giant has since admitted cheating emissions tests in the US. The company then changed its management, with the new one recalling millions of cars worldwide and setting aside 6.7 billion Euros to do so.

Source: Qatar News Agency