Volkswagen to pay up to $14.7bn to mitigate Dieselgate

Posted on 3 Jul 2016 by Michael Cruickshank
Volkwagen was one of the major players at least week's diesel summit. Image courtesy of Flickr-Gerry Lauzon

German automaker Volkswagen AG (VW) yesterday announced a deal to pay out huge amounts of cash in order to mend damage caused by the Dieselgate scandal.

All up, the company plans to pay as much as $14.7bn to clean up the mess from this scandal. Last year the company was found by the US Environmental Protection Agency (EPA) to be cheating on vehicle emissions tests, prompting fines, recalls and investigations in a number of countries. The deal itself was made with…

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