Big budget: VW emblems in a production line at the group’s plant in Wolfsburg. VW has set aside US18.3bil to cover the costs of its emission-cheating scandal. — Reuters
WASHINGTON: Volkswagen AG (VW) will submit its US$10bil plan this month to fix a half-million emissions-cheating cars or get them off US roads even though it’s awaiting regulators’ sign-off on how to retrofit the vehicles, a person familiar with the matter said.
About US$6.5bil would go to car owners and US$3.5bil to the US government and California regulators, said the person, who asked not to be identified because the deal isn’t public yet.
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