VW Looking for US-Style Settlement in Canada

The Volkswagen Group is hoping to reach a settlement similar to one it recently reached in the US with Canadian TDI owners, reports German newspaper Handelsblatt, citing an anonymous source.

A spokesperson at Volkswagen AG declined to comment on the story, but confirmed that the carmaker is in talks with Canadian authorities, but says that no decisions have been made.

Handeslblatt goes on to say that Volkswagen would have to pay up to $2 billion if it reached that settlement in Canada, but does not cite a source for that information.

By comparison, the US deal could cost the company as much as $15 billion, with 10 billion of that going to buying back the TDIs.

There is no word yet on whether or not a Canadian deal would also involve funding for green technologies and environmental programs.

[source]

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