Volkswagen to pay $14.7 Billion in Diesel Emission Scandal Settlement

Volkswagen will repair or buy back polluting vehicles and pay each owner as much $10,000 under a $14.7 billion legal settlement stemming from its emissions-cheating scandal.

The deal, expected to be filed in court today, sets aside ten-billion dollars to repair or buy back roughly 475,000 polluting vehicles with 2-liter diesel engines.

The fund will also compensate each owner with an additional payment of $5,100 to $10,000.

A person briefed on the matter spoke on condition of anonymity, because a judge ordered attorneys not to talk about the settlement before it’s filed later today.