Volkswagen AG is closing in on regulatory approval for a series of low-cost fixes to 8.5 million rigged diesel vehicles in Europe, a step forward in its effort to overcome a scandal over cheating on emissions.
The proposals for the three affected engines have been submitted to German motor vehicle agency KBA and have made a “positive” impression on regulators, Transport Minister Alexander Dobrindt said in an e-mailed statement Monday. Germany is responsible for approving those vehicles in Europe, and the final go-ahead there would provide a template for a recall across the region. The shares rose the most in more than seven weeks.
