Volkswagen Reaches $15.3 billion Settlement With DoJ
Volkswagen announced today that it reached a $15.3 billion settlement with the United States Department of Justice to resolve civil claims regarding the US diesel issue.
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Broken down, $10 billion of the total will be paid out in compensation to 2.0L diesel vehicle owners of which there are around 0.5 million. A further $2.7 billion will be paid into a remediation fund, and another $2 billion will be made available for investment in initiatives to promote zero-emissions vehicles. $0.6 billion will be set aside to resolve state consumer protection claims.
The fine levied on Volkswagen reflects what deputy US attorney general Sally Yates...
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