VW Reaches Diesel-Cheating Deal to Pay Car Owners, Welt Says
Volkswagen Said to Reach Compensation Deal With U.S.
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Volkswagen AG has reached an agreement with U.S. authorities to pay $5,000 each to American owners of diesel vehicles that were rigged to cheat pollution controls, Germany’s Die Welt Newspaper reported Wednesday.
As part of the deal, the carmaker will update the software on models equipped to address the emissions problem, while the “small proportion’’ of cars that can’t be fixed will be subject to a buyback, the newspaper reported, citing an unidentified source close to the negotiations. The plan is slated to be presented to U.S. District Judge Charles Breyer in San Francisco on Thursday.