A US judge has approved Volkswagen ’s ( VW ) $ 14.7bn deal relating to its diesel emissions scandal . The deal , agreed with federal and Californian judges and 475,000 car owners , was one of the largest - ever recorded corporate settlements . No final agreement has been reached. Up to $ 5000 will be spent on buybacks with the remaining $ 4.7bn being devoted to emissions offset and clean - vehicle initiatives . VW will start to buy back affected cars from next month . US District Judge Charles Smith rejected claims from owners who felt the settlement was inadequate .
A US judge has approved Volkswagen ’s ( VW ) $ 14.7bn deal relating to its diesel emissions scandal . The deal , agreed with federal and Californian judges and 475,000 car owners , was one of the largest - ever recorded corporate settlements . Up to $ 5000 will be spent on buybacks with the remaining $ 4.7bn being devoted to emissions offset and clean - vehicle initiatives . VW will start to buy back affected cars from next month . US District Judge Charles Smith rejected claims from owners who felt the settlement was inadequate .