The I.D. Buzz Concept, as it’s called, transforms the old icon’s classic shape into something the original’s hippie fans might have liked: a zippy all-electric minivan. It’s an appealing concept that drew crowds at the North American International Auto Show.
Category: Volkswagen AG
VW Closes in on $4.3 Billion U.S. Accord in Diesel Scandal
Volkswagen AG is closing in on a deal to pay $4.3 billion in criminal and civil penalties to settle a U.S. probe into the rigging of diesel-powered cars to cheat emissions tests. The agreement, which VW said Tuesday will include a guilty plea, raises the cost of the scandal to more than $23 billion in the U.S. and Canada, blowing by the 18.2 billion euros the carmaker had set aside to resolve the disputes.
VW Shrugs Off Scandal Woes as 2016 Deliveries Rise to Record
Volkswagen AG delivered more cars and trucks than ever before, shrugging off the emissions-cheating scandal by wooing more customers in China. The German manufacturer, which vies with Toyota Motor Corp. for the title of the world’s biggest automaker, posted a 3.8 percent rise in sales to 10.3 million vehicles in 2016, the Wolfsburg-based company said in a statement.
VW Closes in on $4.3 Billion U.S. Accord in Diesel Scandal
Volkswagen AG is closing in on a deal to pay $4.3 billion in criminal and civil penalties to settle a U.S. probe into the rigging of diesel-powered cars to cheat emissions tests. The agreement, which VW said Tuesday will include a guilty plea, raises the cost of the scandal to more than $23 billion in the U.S. and Canada, blowing by the 18.2 billion euros the carmaker had set aside to resolve the disputes.
VW Closes in on $4.3 Billion U.S. Accord in Diesel Scandal
Volkswagen AG is closing in on a deal to pay $4.3 billion in criminal and civil penalties to settle a U.S. probe into the rigging of diesel-powered cars to cheat emissions tests. The agreement, which will include a guilty plea according to VW, raises the cost of the scandal to more than $23 billion in the U.S. and Canada, blowing by the 18.2 billion euros the carmaker had set aside to resolve the disputes.
Volkswagen Said to Be Close to Settling U.S. Criminal Probe
Volkswagen AG is close to reaching a multibillion dollar settlement with the Justice Department over its cheating of diesel emissions tests, according to people familiar with the matter, wrapping up the company’s exposure to U.S. authorities in the long-running scandal. The resolution, which could come as soon as next week, would include criminal and civil penalties, said the people, who asked not to be named because the negotiations are confidential.
VW Ordered to Face U.S. Investor Suit Over Diesel Cheating
Volkswagen AG must face claims it misled U.S. investors after installing so-called defeat devices in diesel vehicles used to cheat emissions tests. A San Francisco federal judge also rejected a request to dismiss shareholder claims against former VW Chairman Martin Winterkorn, who said investors in VW’s American depositary receipts couldn’t prove he knew the extent of the company’s “diesel issue.”
VW Buys Mobile-Payment Provider PayByPhone for Parking Services
Volkswagen AG bought North American parking-payment operator PayByPhone in the latest move by Europe’s biggest carmaker to expand from manufacturing into mobility services. The purchase of Vancouver-based PayByPhone, which processed more than $250 million in transactions this year, will turn the German company’s Volkswagen Financial Services unit into the leader in mobile payments for parking, the automaker said Wednesday in a statement.
Porsche Holding Wins Hedge Fund Lawsuit at German Top Court
Porsche Automobil Holding SE won a key legal victory in its effort to end years of litigation stemming from a failed attempt to take full control of Volkswagen AG in 2008. Germany’s highest civil court dismissed an appeal by 19 hedge funds including Viking Global Equities LP, Glenhill Capital LP and David Einhorn’s Greenlight Capital Inc., Porsche Holding said Friday in a statement.
VW Agrees to $1 Billion Settlement in Cheating-Scandal Recovery
Volkswagen AG took an important step in digging out from its emissions-cheating scandal by reaching a $1 billion agreement to settle lawsuits over tainted 3.0-liter diesel engines. The preliminary accord calls for the German automaker to fix or buy back 83,000 Audi, VW and Porsche vehicles equipped with a so-called defeat device.
VW Reaches Deal for Emissions-Cheating Audi, Porsche Models
Volkswagen AG reached what was called a $1 billion agreement with U.S. car owners and regulators to fix or buy back about 83,000 Audi, VW and Porsche vehicles with emissions-cheating 3.0-liter diesel engines. The accord covering some 2009 to 2016 luxury models resolves another significant piece of Volkswagen’s emissions-cheating scandal.