Volkswagen reaches settlement with US government
11/01/2017
This money is on top of civil settlement Volkswagen agreed to pay last year, amounting to $15.3 billion. Volkswagen used illegal software to falsify the emissions performance of some of its diesel cars.
As part of the resolution, Volkswagen has also agreed to a series of measures to “further strengthen its compliance and control systems”, including the appointment of an independent monitor for a period of three years.
Matthias Müller, chief executive of the Volkswagen Group (pictured), said: “Volkswagen deeply regrets the behaviour that gave rise to the crisis. Since all of this came to light, we have worked tirelessly to make things right for our affected customers and have already achieved some progress on this path. The agreements that we have reached with the US government reflect our determination to address misconduct that went against all of the values Volkswagen holds so dear.”
He described the development as an important step forward for the company and its employees.
However, six high-ranking Volkswagen executives have been indicted by the US legal authorities and one of them, Oliver Schmidt, has been arrested in the US. The others remain in Germany. Mr Schmidt ran the company’s environmental department in the US.
Share this story:
