Leadership Skills / Energy Management

Volkswagen agrees to buy back diesel vehicles, fund clean-air efforts

By Reuters

Jun 28, 2016

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German automaker Volkswagen AG will pay as much as $15.3 billion after admitting it cheated on U.S. diesel emissions tests for years, agreeing to buy back vehicles from consumers and provide funding that could benefit makers of cleaner technologies.

A deal formally filed by the Justice Department on Tuesday will provide the largest-ever automotive buyback offer in the United States.

Read the full story at reuters.com.