Thursday, March 30, 2017

Volkswagen Settles 10 U.S. State Diesel Claims for $157 mln

A man walks past the brands of the Volkswagen group during the annual news conference in Wolfsburg, Germany, April 28, 2016. (Credit: Reuters/Fabrizio Bensch) Click to Enlarge.
Volkswagen AG said on Thursday it has agreed to pay $157.45 million to settle environmental claims from 10 U.S. states over its excess diesel emissions, as the world's largest automaker looks to move past the scandal.

The settlement covers states including New York, Connecticut, Massachusetts, Pennsylvania and Washington, as well as some consumer claims.  In 2016, the German automaker reached a $603 million agreement with 44 U.S. states, but that settlement did not cover claims in Thursday's announcement.

The settlement also requires Volkswagen to offer at least three new electric vehicles in the 10 states by 2020, including two SUVs.  VW agreed in December to offer the vehicles in California in the same time frame.

In total, VW has agreed to spend up to $25 billion in the United States to address claims from owners, environmental regulators, states and dealers and to make buy-back offers.

New York Attorney General Eric Schneiderman said the state's $32.5 million share of the settlement is the state's largest- ever air pollution fine and "makes clear that no company – however large or powerful – is above the law."

Massachusetts Attorney General Maura Healey said the state's $20 million share is the largest-ever state environmental civil penalty.

Read more at Volkswagen Settles 10 U.S. State Diesel Claims for $157 mln

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