VolksWagen close to $4.3bn deal with US over emissions

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Volkswagen said Tuesday it is close to reaching a settlement worth about 4.3 billion dollars with the US Department of Justice over its emissions scandal.

Negotiations between the two parties are in the final phases, Volkswagen said, adding that the expected agreement would put an end to the various criminal investigations and civil fines.

Since admitting to installing emissions-cheating software in its vehicles in September 2015, Europe’s largest carmaker has been in talks with customers and governments over compensation and damages for the software, which was installed on 11 million cars worldwide.

dpa