Volkswagen Reaches $14.7B Settlement for Emissions Scandal
Jun 28, 2016, 01:13 AM
(SAN FRANCISCO) — A person briefed on the matter says Volkswagen would repair or buy back polluting vehicles and pay each owner as much $10,000 under a $14.7 billion legal settlement stemming from its emissions-cheating scandal.
The person said Monday that the deal sets aside $10 billion to repair or buy back roughly 475,000 polluting Volkswagen vehicles with 2-liter diesel engines, and to compensate each owner with an additional payment of $5,100 to $10,000.