dieselgate
Latest
Report: FBI arrests Volkswagen executive over Dieselgate
The first Volkswagen executive has been arrested in the "Dieselgate" affair, reports the New York Times. The FBI charged former regulatory compliance chief Oliver Schmidt with conspiracy to defraud the United States, said unnamed law enforcement and company insiders. Schmidt reportedly gave false technical explanations for high emissions levels discovered during 2014 tests and only acknowledged the existence of software "defeat devices" once the scandal broke last September.
Regulators approve VW plan to fix 70,000 more diesel vehicles
Before it can reinvent itself as an EV automaker, Volkswagen still has to clean up the remnants of the ongoing Dieselgate scandal that has cost the company billions in buyback programs, repairs and class action settlements. With so many different models affected, VW has also had a difficult time getting regulators to approve it fixes. However, the Environmental Protection Agency and the California Air Resources Board announced Friday that they have approved the company's plans to repair about 70,000 Generation 3 2-liter engine vehicles.
Volkswagen reaches deal for remaining 80,000 Dieselgate vehicles
Even though it's been over a year since Volkswagen was caught lying in the Dieselgate scandal, it's finally going to be done paying for it. The company recently reached a deal with US regulators whereby it'll account for the remaining 80,000 diesel vehicles that were programmed to cheat on emissions tests. There'll be an option to buy back at least 20,000 of the vehicles and all car owners will get "substantial compensation" for the inconvenience. The company had already committed to spending around $2.7 billion over three years to cover the cost of the 475,000 2-liter cars caught up in the scandal. The 80,000 vehicles mentioned here are 3-liter models that weren't included in the earlier estimate. On top of that, Volkswagen has also agreed to cough up $200 million to a US environmental fund. It's not sure yet if other European countries will step in to punish the company even further. In the meantime, Volkswagen has been busy trying to revamp its image as an EV maker. With a $14.7 billion settlement, the Dieselgate scandal is considered one of the largest class-action suits in US history.
VW to pour $200 million more into an anti-pollution fund
Believe it or not, Volkswagen still isn't done paying for its diesel emissions scandal. Reuters understands that the car maker has agreed to pay over $200 million extra into a US Environmental Protection Agency fund devoted to reducing pollution created by VW's diesel emissions cheating. The company had already agreed to spend $2.7 billion over three years, but the extra money will cover the 80,000 3-liter diesels that violated emissions limits -- previously, it was only accounting for 2-liter vehicles. Barring surprises, the deal could be made official as soon as the 19th.
Volkswagen will reinvent itself as an EV maker
There may be something of a silver lining to Volkswagen's corrupt attempts to cheat emissions tests with its diesel and gas vehicles. The company, reeling from the fines it'll pay for its misdeeds, has announced a radical plan to overhaul itself. It's called "Pact for the Future," and sees the carmaker making a huge commitment to build more electric vehicles, reshape its business and clean up its working practices. Change, however, comes at a price, and in this case it's that the company will shed up to 30,000 jobs.
Audi reportedly cheated gas engine emissions tests, too
The California Air Resources Board has reportedly discovered that even more VW-Group vehicles were cheating emissions tests. The WSJ and Reuters (via German paper Bild) are talking about how regulators have found software in Audi cars that effectively masked their CO2 output under examination. The revelations were apparently made up to four months ago, but neither Volkswagen, Audi or CARB have made the news public.
Volkswagen to compensate dealerships after diesel scandal
As part of a settlement after its previous diesel scandal, Volkswagen is working to ensure franchise dealership owners that they will indeed receive compensation.
Volkswagen chokes on its first loss in 15 years
After inventing a diesel engine that doesn't emit any harmful gases into the atmosphere, you'd think that VW would never run out of money ever again. Despite this, the German auto maker has just posted a quarterly loss of €3.48 billion ($3.84 billion) which, if we're honest, makes very little sense. After all, the financial documents reveal that the firm was making a pile of money up until September, and then everything drops off a cliff. The only thing that makes sense is if something totally implausible took place, like discovering that the firm was using software in a global system of emissions fraud. But, if we're honest, nobody in their right mind would attempt something so irresponsible as that, would they.
