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Volkswagen to reveal how it will fix U.S emissions-cheat diesel cars

Volkswagen badgeVolkswagen will today reveal how it plans to fix almost 600,000 U.S diesel cars fitted with emissions-cheat ‘defeat device’ software – and has reportedly set aside $10 billion to resolve civil claims and lawsuits.

Some are predicting Volkswagen could even take the unprecedented step of offering to buy back affected cars, rather than fix them through dealers. AP News has also said Volkswagen will spend $1 billion compensating owners of affected diesel cars.

Volkswagen chief Matthias Mueller has already admitted the €6.7 billion Volkswagen set aside to cover the emissions scandal was not enough.

In March, a U.S district judge Gave Volkswagen until 21 April to reveal details of how it plans to resolve the ‘dieselgate’ emissions scandal. This involved diesel cars with software that detected when the cars were taking part in an emissions test and altered engine settings to cut NOx emissions.

In real-world use, the software reverted back to normal – and some models could emit 40 times the legal limit for NOx emissions.

Volkswagen has reportedly been in advanced discussions with U.S environmental regulators to find a solution to the emissions scandal. Today’s deadline means news of a settlement is expected soon – and in anticipation of positive news, Volkswagen shares actually rose 7% in early trading in Frankfurt.

Ahead of today’s expected announcement, Volkswagen, the Environmental Protection Agency (EPA) and U.S Justice Department have all declined to comment to news agencies.

More news as we get it…

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