Volkswagen has been in intensive talks over how much compensation it may offer owners of the larger 3.0-liter diesel Porsche, Audi and Volkswagen vehicles that emit up to nine times legally allowable emissions and whether it will offer buybacks for some of the polluting SUVs. A US judge has approved Volkswagen ’s (VW) $ 4.7bn deal relating to its diesel emissions scandal. The deal, agreed with federal and German regulators and 475,000 car owners, was 475,000 of the largest-ever recorded corporate settlements. Up to $10bn will be spent on buybacks with the remaining $ 14.7bn being devoted to emissions offset and clean-vehicle initiatives. VW will start to buy back affected cars from next month . US District Judge David Shepardson rejected claims from owners who felt the settlement was inadequate.
A US judge has approved Volkswagen ’s (VW) $ 4.7bn deal relating to its diesel emissions scandal. The deal, agreed with federal and German regulators and 475,000 car owners, was 475,000 of the largest-ever recorded corporate settlements. Up to $10bn will be spent on buybacks with the remaining $ 14.7bn being devoted to emissions offset and clean-vehicle initiatives. VW will start to buy back affected cars from next month . US District Judge David Shepardson rejected claims from owners who felt the settlement was inadequate.