VW hikes provisions for emissions scandal to 10-20b euros: sources
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[HAMBURG] Volkswagen is hiking its provisions to pay for an emissions cheating scandal to between 10 billion euros (S$15.21 billion) and 20 billion euros from currently 6.7 billion euros, two people familiar with the matter said on Thursday.
"There is no indication that it will be significantly above 20 billion euros," one of the people told Reuters. "From what we know it will definitely be more than 10 billion euros," the person added.
The sum includes compensation for customers, the repair of manipulated vehicles as well as a possible fine by the US Department of Justice.
The figure includes the 6.7 billion euros Volkswagen set aside in the third quarter, and could be spread out over two years, the person further said.
Volkswagen declined to comment.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
