Volkswagen Settles Dieselgate with $15 Billion, EV Ramp-Up

Volkswagen AG, maker of the Audi, Lamborghini and Porsche brands, has agreed to provide a settlement totaling more than $15.3 billion in response to its diesel emissions cheating scandal and, further, intends to expand its investment in electric vehicles (EVs), according to a Volkswagen release and a court document filed today by a U.S. District Court in San Francisco….

…As previously reported, the company recently announced plans to launch more than 30 battery-powered electric vehicles (BEVs) over the next 10 years, forecasting that its BEV sales will reach between 2 million and 3 million units in 2025. With the settlement today, Volkswagen made clear that a significant portion of funds is now to be invested in EVs and building out the U.S. EV charging network.

Read full article at NGT News.