This Wednesday the Volkswagen AG Chief Executive Matthias Mueller said he is hopeful the German automaker can reach agreement by the end of the year with the U.S. government on the size of a fine to settle a criminal investigation of the company's alleged violations of U.S. clean air laws.
He added that he sees a good progress toward an agreement with U.S. regulators that could allow Volkswagen to repair certain 3.0 liter diesel engines that emit more pollutants than U.S, law allows. Speculation that the U.S. Justice Department will demand a multibillion-dollar fine to settle a criminal investigation of the automaker's use of illegal software to deceive U.S. environmental regulators sent Volkswagen shares into a tailspin earlier this week. Mueller reported that they are into a constructive dialogue with authorities in Germany, Europe and U.S.. He hopes to know the results of all the investigations in the near future
VW agreed to pay US $15.3 billion to resolve civil litigation related to the emissions cheating, and to buy back vehicles if they could not be repaired as required by U.S. and California regulators. He said the company made provisions for everything they will have to face, including fines, environmental projects and compensation to the costumers.