Exclusive Sources: VW Has No Deal Yet on How To Repair Diesel Cars in the United States
Volkswagen has so far failed to agree on a deal with the U.S. Environmental Protection Agency on how to fix manipulated diesel cars in the United States, Handelsblatt learned from people familiar with the talks. Both parties have come closer to reaching an agreement but will need more time to finalize it, according to the sources. Faced with a Thursday deadline imposed by a Californian judge, VW has asked the U.S. court for a 14-day extension to present a solution to fix around 580,000 diesel cars in the United States. The company made its request in agreement with lawyers, who are suing Volkswagen for manipulating emissions test results with illegal engine software. It is unclear whether the judge, Charles Breyer, will allow an extension of the deadline. Observers of the court case assume Mr. Breyer will only offer more time when he believes an agreement is imminent. If the judge does not extend the deadline, VW could face sanctions. In the worst case scenario, Mr. Breyer could demand daily payments from the carmaker to force it to agree on a deal more quickly. Read the full story in Thursday’s Handelsblatt Global Edition at 12:00 CET.
03/24/2016 - 08:40 AM