Volkswagen will pay 4.3 billion dollars to the US over the "dieselgate" scandal

The German manufacturer has moved closer to the US Department of Justice on paying the penalty related to the “dieselgate” case.

Volkswagen has reached an agreement in principle with US authorities over the emissions scandal that affected 11 million vehicles worldwide and 600,000 in the US. The notorious fraudulent device was installed in 555,000 vehiclesVolkswagen, with the aim of detecting when they were being subjected to emissions control tests.

The Volkswagen group faces criminal and civil fines. As the brand itself announced in a statement, the penalties could amount to 4.3 billion dollars (4.1 billion euros). The amount of this fine exceeds the company’s current provisions, so its payment will have to be authorised by the automaker’s supervisory board. The German manufacturer has not defined the economic impact this penalty will have on the annual result, as it says it “depends on several additional factors”.

In addition to the financial penalty, a series of measures are being negotiated to strengthen compliance and emissions control systems, including the appointment of an independent monitor for Volkswagen over the next three years.

The final agreement is subject to approval by the US Board of Directors, the Supervisory Board of Volkswagen AG and the US courts. This resolution could be made official today.

Source: Newspress