'Significant Progress' is Being Made on A Deal Over Volkswagen's Emission Cheating
As we reported last month, Volkswagen and the U.S. Government have reached an agreement concerning cheating done with the 2.0L TDI four-cylinder engine. This week, the two parties were in U.S. District Court in San Fransisco to provide an update on the discussions finalizing the agreement.
The "parties ... have reported that in the month since we last met they have made substantial progress in intensive daily efforts to finalize the agreement, and most importantly are on track to meet the court's deadline," said U.S. District Judge Charles Breyer at the hearing.
Reuters says an agreement between the two has to be finalized by June 21. A hearing to discuss it will take place a month later.
Trouble brewing with the agreement
On the same day of the hearing, Volkswagen filed paperwork at the court arguing that the fines being sought by the U.S. Government are excessive. Bloomberg says the reason Volkswagen filed this paperwork is due to the government probe into the scandal is ongoing. We don't know how much the U.S. Government is planning to fine Volkswagen, but Bloomberg says the deal to resolve civil claims is around $10 billion.
Pic Credit: Volkswagen