Emissions Settlement Expected To Cost Volkswagen $15 Billion

  • Monday, June 27, 2016

A settlement regarding an emission cheating scandal is expected to cost Volkswagen $15 billion.

Exact terms are to be released on Tuesday in court in San Francisco.

Volkswagen is to fix or buy back polluting vehicles, paying each owner between $5,100 and $10,000. There would be $10 billion set aside for that item.

The scandal involves some 475,000 VWs with 2-liter diesel engines.

The settlement is expected to include $2.7 billion for environmental mitigation and another $2 billion for research on zero-emissions technology.
Business/Government
Upcoming City Council Agenda For Tuesday
  • 4/26/2024

Here is the upcoming City Council agenda for Tuesday: I. Call to Order by Chairman Henderson. II. Pledge of Allegiance/Invocation (Councilman Hester). III. Special Presentations. ... more

Latest Bradley County Arrest Report
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Click here for the latest Bradley County arrest report. more

County Unemployment Remains Below 5% Across Tennessee
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Newly-released data from the Department of Labor and Workforce Development (TDLWD) documented unemployment rates below 5% in each of Tennessee’s 95 counties in March. County unemployment rates ... more