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On 28 June 2016, Volkswagen agreed to pay $15.3 billion [343] to settle the various public and private civil actions in the United States, the largest settlement ever of an automobile-related consumer class action in United States history. [344]
Projects funded with the settlement money were meant to reduce the amount of NOx emissions, because that was the pollutant on which Volkswagen was charged with trying to fool regulators.
Volkswagen also announced plans to become the world leader in electric cars, producing 1 million VW-EVs by 2025 and 3 million by the group, [35] and a VW manager stated that its diesel cars would not become available in the United States. [36] On 11 January 2017, Volkswagen agreed to plead guilty to the emissions-cheating scandal and to pay $4. ...
These included the Volkswagen Type 2 in 1950, the Volkswagen Karmann Ghia in 1955, the Volkswagen Type 3 in 1961, the Volkswagen Type 4 in 1968, and the Volkswagen Type 181 in 1969. In 1960, upon the flotation of part of the German federal government 's stake in the company on the German stock market, its name became Volkswagenwerk ...
The settlement is the latest by major automakers and much of the funding goes to boosting recall completion rates. ... -Volkswagen's U.S. unit has agreed to a $42 million settlement covering 1.35 ...
Electrify America, LLC is an electric vehicle DC fast-charging network in the United States, with more than 950 stations and over 4,250 DC fast charging connectors as of August 2024. It is a subsidiary of Volkswagen Group of America , established in late 2016 by the automaker as part of its efforts to offset emissions in the wake of the ...
In contrast to Fortune’s landmark list of the 500 biggest U.S. companies, occupied by a dynamic mix of retail, tech, pharmaceuticals, and energy, Europe continues to be dominated by industry.
As part of a January 2019 settlement, Fiat Chrysler recalled and repaired approximately 100,000 automobiles equipped with a 3.0-litre V6 EcoDiesel engine having a prohibited defeat device, pay $311 million in total civil penalties to US regulators and CARB, pay $72.5 million for state civil penalties, implement corporate governance reforms, and ...