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Edward Niedermeyer

Dieselgate Just a Bend in the Road for VW

The real casualty of the multi-billion-dollar scandal? A not-so-clean technology.
It's gonna be dark for a while.

It's gonna be dark for a while.

Photographer: Krisztian Bocsi/Bloomberg

Volkswagen's $15 billion deal with customers and regulators may be the largest settlement ever for an automaker in the U.S., but it's only the first step in what will be a lengthy, painful effort to put the company's diesel emissions cheating scandal behind it.

Having set aside more than $17 billion to cover the costs of the ordeal, it might appear that VW has closed an ugly chapter in its history at a small discount. It's unlikely that executives are celebrating. The final reckoning for VW is likely to cost the company billions more.