VW U.S. emissions settlement “to cost $15 billion”June 28, 2016 - 09:49 AMT PanARMENIAN.Net - German carmaker Volkswagen has reportedly reached a $15bn settlement with U.S. car owners after admitting it cheated emission tests, BBC News reports. The deal would offer to repair or buy back the affected diesel vehicles and pay owners compensation, according to sources close to the talks. Last year, U.S. regulators discovered that VW cars were fitted with software that could distort emissions tests. The German giant subsequently said 11 million cars were affected worldwide. The U.S. settlement is still pending approval by a judge, but it would be the largest car scandal settlement in the country's history. The details are expected to be announced on Tuesday. According to news agencies, the legal settlement sets aside $10 billion to repair or buy back around 475,000 affected vehicles with 2-litre diesel engines, and to compensate owners with a payment of up to $10,000. Car owners would still be able to decline the VW offer and sue the firm on their own. According to the sources quoted by news agencies, the deal also includes $2.7bn in funds to offset excess diesel emissions and $2bn for research into green energy and environment-friendly cars. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. Ucom launches network modernization efforts in few regions of Armenia In particular, on March 28, the legacy Mobile Switching Subsystem will be replaced with a new one. |