Volkswagen has officially confirmed the latest reports on an “in principle” agreement with the US authorities related to the emissions scandal.
Even if Volkswagen has not disclosed the terms of the settlement, the company said in a statement that it finally struck a deal “in principle” with the Department of Justice, the Environment Protection Agency and the California Air Resources Board, with the full involvement of the Federal Trade Commission. This agreement will be incorporated into a more comprehensive one in the coming weeks. Furthermore, Europe’s biggest automaker said it has also reached common grounds on the basic features of a settlement with the class action plaintiffs in the lawsuit in San Francisco. However, trouble is far from over for Volkswagen, as it still faces ongoing investigations by the Department of Justice, Criminal Division, and the State Attorneys General over its emissions cheating saga.
According to US District Judge Charles Breyer, who is overseeing the case in federal court in California, the proposal covers around 480,000 cars powered by the 2.0-litre diesel engines, but it does not include the extra 90,000 larger 3.0-litre diesels, which are also polluting way over the legal limits. The affected customers will have the options to accept a buy back from Volkswagen or the company to fix their vehicles, or to give up on their leases and leave the cars in dealers’ courtyard.