Automotive News: VW CEO: Hopeful for deal with U.S. authorities by end of the year
VW CEO: Hopeful for deal with U.S. authorities by end of the year
Volkswagen AG Chief Executive Matthias Mueller said on Wednesday he is hopeful the German automaker can reach agreement by the end of the year with the U.S. government on the size of a fine to settle a criminal investigation of the company's alleged violations of U.S. clean air laws.
Mueller, speaking on the sidelines of the Paris auto show, said he also sees “good progress” toward an agreement with U.S. regulators that could allow Volkswagen to repair certain 3.0 liter diesel engines that emit more pollutants than U.S. law allows.
Speculation that the U.S. Justice Department will demand a multibillion-dollar fine to settle a criminal investigation of the automaker's use of illegal software to deceive U.S. environmental regulators sent Volkswagen shares into a tailspin earlier this week. read more »
