Volkswagen officially confirms $4.3 billion American settlement over diesel emissions

On Tuesday, Volkswagen AG officially confirmed it has already negotiated a $4.3 billion draft settlement with American regulators for the purpose of resolving its diesel emissions troubles as well as plans to plead guilty to criminal misconduct.

The guilty plea happens to be part of the civil as well as criminal deal because the carmaker considers restoring its tarnished global brand. The carmaker stressed that with the addition of the fine, its diesel costs are going to exceed the nearly 18.2 billion euros it has already set aside just to handle the issue. VW also told it’s going to face oversight by an independent monitor for the next three years.

Earlier Reuters reported that the company's supervisory board is about to meet on Wednesday in order to approve a civil as well as criminal settlement with the US Justice Department as for the automaker's diesel emissions.

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