VW Board Set to Sign Off on $4.3 Billion U.S. Diesel Penalty
- Settlement sends crisis cost above $19.2 billion set aside
- U.S. Justice Department deal includes VW guilty plea
Volkswagen in Advanced Talks With U.S. on $4.3B Penalty
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Volkswagen AG’s supervisory board is set to sign off on a $4.3 billion settlement of U.S. criminal and civil penalties for rigging diesel-powered cars to cheat on emissions tests, the latest step in the carmaker’s effort to resolve the scandal.
The agreement with the U.S. Department of Justice and customs authorities will include a guilty plea, Wolfsburg, Germany-based VW said Tuesday. The board plans to meet Wednesday to review the agreement.