Volkswagen Sets £4.7 billion aside for Emission Scandal

Volkswagen Sets £4.7 billion aside for Emission ScandalVolkswagen, VW,a German car-making company, has set about £4.7 billion aside to fix 11 million vehicles in United States affected by its emission scandal. The automaker, which ousted Toyota to be the world’s top-selling auto brand in the first half of 2015, disclosed that it is working at full speed to clarify irregularities concerning the particular software used in diesel engines.

German Chancellor Angela Merkel urged the company to imbibe full transparency in clearing its name. “The German transport minister is in close contact with the company and I hope the facts will come to light as soon as possible,” she stated. Merkel added that it was “premature to comment on whether any specific immediate surveillance measures are also necessary in Europe

Recently, the US Environmental Protection Agency, EPA, disclosed the VW diesel cars has a “defeat device” software installed, which allowed lower emissions during test than they would while driving. The EPA then ordered Volkswagen to recall 500,000 cars. According to the EPA, the company is expected to pay a fine of $37,500 for each of the 482,000 vehicles sold since 2008 that did not adhere with Federal clean air rules.

VW has stopped selling the affected diesel models in the US. They are including the Audi A3, the Jetta, Beetle, Golf and Passat models. The Company has ordered an external investigation but has not revealed who will be conducting it.

 

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