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Volkswagen reportedly agrees to $15 billion settlement over emissions scandal

Posted On: Jun. 28, 2016 12:00 AM CST

German carmaker Volkswagen A.G. has reportedly agreed to a $15 billion settlement with U.S. car owners over the diesel emissions scandal, reported BBC News citing news agencies.

Sources said that the deal would offer to repair or buy back the affected diesel vehicles and pay compensation to owners.

Volkswagen will set aside $10 billion to repair or buy back around 475,000 affected vehicles.

The automaker will also compensate owners with a payment of up to $10,000.

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