Volkswagen AG has agreed to a settlement worth more than $15.3 billion, according to a court document filed Tuesday and a source briefed on the matter.
The Justice Department filed a proposed consent decree that confirms VW will set aside $10.033 billion to cover buybacks and fixes, $2 billion to be invested in green energy funds and $2.7 billion to offset diesel emissions.
A source briefed on the matter said VW would announce a separate settlement with at least 44 U.S. states, the District of Columbia and Puerto Rico that will cost at least $600 million. (Reuters)
PHOTO: A VW sign is seen outside a Volkswagen dealership in London, Britain November 5, 2015.
CREDIT: REUTERS/SUZANNE PLUNKETT/FILE PHOTO.
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