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Showing results for tags 'pollution reduction fund'.
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There appears to be some movement on the 3.0L TDI settlement between Volkswagen and U.S. Government. A source briefed on the 3.0L TDI V6 settlement told Reuters that Volkswagen will pay $200 million into a pollution reduction fund. This is on top of the $2.7 billion Volkswagen will be paying for the 2.0L TDI pollution reduction fund. This seems to be the only thing the two groups have agreed on at the moment. Yesterday, a hearing at U.S. Federal Court in San Fransisco was pushed back few hours to give them more time to negotiate. U.S. District Judge Charles Breyer said at the hearing the parties have made "substantial progress and I am optimistic that there will be a resolution." Breyer has given them until Monday to see if an agreement can be reached. The sticking point in the negotiations over the 3.0L TDI has been how much Volkswagen would offer in compensation to owners who get their vehicles repaired or bought back. Reuters says Volkswagen, the U.S. Federal Trade Commission, and lawyers for the suing owners have been going at it for weeks. Source: Reuters View full article -
There appears to be some movement on the 3.0L TDI settlement between Volkswagen and U.S. Government. A source briefed on the 3.0L TDI V6 settlement told Reuters that Volkswagen will pay $200 million into a pollution reduction fund. This is on top of the $2.7 billion Volkswagen will be paying for the 2.0L TDI pollution reduction fund. This seems to be the only thing the two groups have agreed on at the moment. Yesterday, a hearing at U.S. Federal Court in San Fransisco was pushed back few hours to give them more time to negotiate. U.S. District Judge Charles Breyer said at the hearing the parties have made "substantial progress and I am optimistic that there will be a resolution." Breyer has given them until Monday to see if an agreement can be reached. The sticking point in the negotiations over the 3.0L TDI has been how much Volkswagen would offer in compensation to owners who get their vehicles repaired or bought back. Reuters says Volkswagen, the U.S. Federal Trade Commission, and lawyers for the suing owners have been going at it for weeks. Source: Reuters
