Volkswagen and the US government along with lawyers representing owners of the affected diesel cars have made “substantial progress” towards a final settlement, according to Judge Charles Breyer.
The US District Judge said that the interested parties have agreed on the three objectives that will form the final solution over VW’s emissions-cheating diesel vehicles.
Owners of the 482,000 affected VW models will receive a “substantial compensation” which is going to be above of the cost of the fix.
Judge Breyer also said that all parties are on track to file the final proposed settlement by the June 21 deadline. He also said that the solution for the 80,000 vehicles equipped with the larger 3.0-litre TDI engines is still under examination, without giving a deadline for its resolution.
The three objectives upon which the final settlement is going to be based are:
• VW must buy back or terminate leases of affected 2 liter vehicles or offer a fix
• VW must pay “substantial compensation” above the cost of the fix / buy back, to each owner / lessee.
• VW must contribute to a fund for environmental remediation and otherwise pay for other “green” initiatives.
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