Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

VW to pay $1.5 million to settle New Hampshire, Montana diesel claims

Stock MarketsSep 27, 2021 11:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris, France, July 9, 2020. REUTERS/Christian Hartmann/File Photo

By David Shepardson

WASHINGTON (Reuters) -Volkswagen AG on Monday said it has agreed to pay $1.5 million to settle environmental claims with the states of New Hampshire and Montana over updates of emissions software arising from the 2015 diesel cheating scandal.

The settlements, about $280 per vehicle, are a small fraction of what the states initially sought. The German automaker and several courts previously have cited astronomical figures as maximum liability the German automaker faces over the issue of whether states can enforce emissions laws over updates to emissions software after the vehicles were sold.

VW will pay New Hampshire $1.15 million and it pledged to build another high-speed charging station in the state by 2024. VW has agreed to pay Montana $357,280.

New Hampshire had sought up to $25,000 per vehicle per day and Montana sought up to $10,000 per violation per day. The settlements with the two states announced Monday cover about 5,500 vehicles.

VW last month asked the U.S. Supreme Court to reverse an Ohio court ruling that cleared the way for the state to move forward with its diesel emissions lawsuit.

The German automaker earlier said in court papers Ohio’s claims alone "could total $350 million per day, or more than $127 billion per year, over a multi-year period."

Three remaining states - Illinois, Ohio and Texas - and two counties - Hillsborough County, Florida, and Salt Lake County, Utah - have filed suit involving about 47,000 vehicles.

If the other states and counties settled for $280 per vehicle, the total would be just $13 million.

Volkswagen (DE:VOWG_p) previously settled U.S. actions prompted by the emissions scandal for more than $20 billion, but that did not shield it from local and state government liability, an appeals court found.

VW to pay $1.5 million to settle New Hampshire, Montana diesel claims
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email