VW's Emissions Fixes Approved for 90% of Cars in Europe
- VW CEO Mueller says repair cost, complexity to be `manageable'
- Affected 1.6-liter diesel engines won't need new engine parts
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Volkswagen AG said it is nearing approval to repair about 70 percent of its rigged diesel engines and will resubmit questionable software in other vehicles to U.S. regulators for review, potentially easing two key trouble spots in its emissions crisis.
German automotive regulator KBA has approved a software update for 2.0-liter diesel motors and agreed in principle to a plan for 1.6-liter engines, Chief Executive Officer Matthias Mueller told about 1,000 company executives Monday in Wolfsburg, Germany. The shares rose the most since Oct. 7.