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VW CEO Headed To Washington To Meet With EPA Chief
Mueller is scheduled to meet with U.S. Environmental Protection Agency chief Gina McCarthy on Wednesday of next week, and will also meet with lawmakers on Capitol Hill. The EPA is “anxious to find a way forward so that the company can get into compliance”, she said.
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The Justice Department on Monday filed a civil suit against VW, potentially exposing the company to billions in fines. “EPA continues to insist that VW develops effective, appropriate remedies as expeditiously as possible”.
VW declined to comment on the impending meeting.
Volkswagen AG may buy back tens of thousands of cars with diesel engines that can’t be easily fixed to comply with US emissions standards as part of its efforts to satisfy the demands of regulators, according to two people familiar with the matter. Nevertheless, VW’s brand chief Herbert Diess recently revealed his confidence that a solution with the EPA would be reached shortly.
McCarthy told reporters after an event in Washington Thursday that VW’s proposals to bring its cars into compliance with emissions standards have so far been inadequate.
Without citing its sources, Germany’s daily Sueddeutsche Zeitung said VW expected it would have to either refund the purchase price of a fifth of the diesel vehicles affected or offer a new auto at a significant discount.
Mueller said he wants VW to try to overtake rivals in profitability rather than keep pushing volume, which under his predecessor Martin Winterkorn doubled to more than 10 million cars sold past year.
VW has conceded that the emissions cheating technology was employed on some 11 million diesel engines worldwide, in vehicles of the model years 2009 through 2015.
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Also, in 2014, Hyundai and Kia paid $100 million to the USA, for violating the same environmental act. VW has also hired Washington lawyer Ken Feinberg to create a diesel emissions claims program and faces more than 500 US lawsuits.