Volkswagen and EPA Emissions Fix Deadline Pushed to April 21
Company Missed Original March Deadline
A U.S. judge is allowing Volkswagen and the Environmental Protection Agency an additional month to come up with a solution to fix the 600,000 vehicles involved in VW’s emissions scandal. The original deadline was set for yesterday, but evidently, the parties involved haven’t come up with a solution.
According to Fortune, District Judge Charles Breyer will hold a trial this summer if Volkswagen doesn’t find a fix by the new deadline. The extension was granted due to the apparently significant progress toward finding a fix for the affected vehicles. However, Judge Breyer will adjudicate a trial if Volkswagen can’t come up with a solution the EPA approves by the April deadline.
This comes in addition to the $46 billion lawsuit filed by the United States Department of Justice against VW for violating environmental laws. And if no solution is found, Volkswagen could be forced to buy back affected cars, costing the company another $9.4 billion. As if that weren’t enough, investors have also filed a suit against the company for failing to disclose information surrounding the scandal. All in, the company could be on the hook for close to $70 billion in damages, to say nothing of the potential for criminal charges.
Of course, settlements could reduce that hit significantly, according to Automotive News, and there’s always the possibility that regulatory bodies would approve a solution that doesn’t completely fix the vehicles (which might be impossible). So it’s all very much up in the air.