San Francisco
what constitutes a step towards the final settlement of a crisis that provoked litigation and investigations around the world and cost him his job the CEO of auto giant German Volkswagen AG agreed to pay up to 14,700 million dollars to settle legal claims regulators and owners of about 500,000 motor vehicles affected by manipulation software diesel emissions.
the total payment, detailed in hundreds of pages of documents filed Tuesday in federal court in San Francisco, including up to 10,030 million dollars to meet the demands of the owners of cars with two-liter diesel engines. Volkswagen also pay 2.700 billion to fund environmental remediation and invest another $ 2,000 in promoting technology called zero emission , according to court documents.
Volkswagen reached a civil settlement , the largest ever for an automaker, the US Justice Department, the Agency for Environmental Protection, the Federal Trade Commission, the California state regulators and consumer advocates plaintiffs. The agreement does not include other civil or criminal financial penalties that could be determined in the future by the Department of Justice.
On the other hand, Volkswagen said it has reached an agreement of 603 million dollars with 44 states United States, the District of Columbia and Puerto Rico to settle claims of consumer protection related to diesel vehicles.
Under the terms of the agreement, American drivers can sell or terminate the lease of vehicles affected or repair any potential problems to meet environmental regulations. Volkswagen will buy back the vehicles to their market value in September, before the regulators themselves known test traps made by automotive emissions control. Vehicle owners who choose to fix the engines must wait until the company obtains government approval for their plans change.
All consumers, regardless of their choice will receive additional compensation of between 5,100 dollars and nearly $ 10,000 each. Drivers have more than two years to make a decision. Volkswagen only cost will rise to 10,030 million dollars if everyone opts for a buyback, according to court documents. The agreement affects 482,000 vehicles with diesel engine model years 2009 to 2015, including the Jetta, Passat, Beetles, Golfs and Audi A3.
The agreement will be presented to Judge Charles Breyer for preliminary approval on July 26. If all deadlines are met as planned, Volkswagen could begin repurchasing cars in October, according to court documents.
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