VW Group will stump up to $15,300,000,000 as it seeks to settle consumer lawsuits and finally bring to an end the emissions scandal it’s been caught up in since September 2015.
The settlement will be the biggest auto-related in American history.
An estimated $10,000,000,000 is expected to go to almost 500,000 Audi or Volkswagen diesel owners who thought they were driving environmentally-friendly vehicles.
Green-conscious buyers later learned their cars’ emissions were hugely exceeding pollution laws.
Volkswagen Group offered to repair or purchase back the cars, but as of yet has not actually created a solution to the problem.
Buyers will receive up to $10,000 in payments, though the exact amount they receive will depend on the age of their car.
Billions More Fines, Penalties And Criminal Charges
Included in the settlement is $2,000,000,000 for better research on vehicles that emit zero emissions, as well as a further $2,700,000,000 on environmental mitigation.
VW Group have so far settled claims with an astonishing forty-four states but is still faced with even more fines that could cost them more billions.
Criminal charges are also on the table, as are heavy penalties.
VW Group admitted cheating on emissions tests by programming their 2.0-litre diesels to switch on emissions controls when the government was performing lab tests, before switching them off again when the car was back on the road.
Gina McCarthy, administrator of the Environmental Protection Agency said: “Using the power of the Clean Air Act, we’re getting VW’s polluting vehicles off the road and we’re reducing harmful pollution in our air – pollution that never should have been emitted in the first place.”
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