EU Official: VW Should Pay Europeans Same TDI Settlement as Americans
Millions More Vehicles Potentially Affected by European Settlement
If Volkswagen thought it was bad news that it would have to pay an average of $5,000 to each U.S. TDI owner affected by the emissions cheating scandal, adding up to a total of more than $10 billion, the company is in for a world more hurt if the European Union’s Industry Commissioner Elizbieta Bienkowska has her way, according to a Reuters report. Compared to the estimated 600,000 vehicles in the U.S. affected, which includes both the 2.0L I-4 TDI and 3.0L TDI V-6, there are an estimated 8.5 million affected vehicles in Europe. If each of those owners received a $5,000 settlement, that would amount to a staggering $42.5 billion, not including government fines and other punitive damages.
Worldwide, there are an estimated 11 million affected vehicles, and governments and regulatory bodies around the globe are proposing fines and settlements for Europe’s largest automaker. Sometime this week, VW is expected to announce a sweeping initiative committing to introducing as many as 30 new electrified models, as well as the details of its settlement with the U.S. Department of Justice and EPA, as well as the California Air Resources Board (CARB). For the last two decades, diesels have been an important part of VW’s global strategy. However, its apparent that, under increasingly rigorous environmental standards and the fallout from the scandal, its future will increasingly depend on development of electrified propulsion technologies.