It's been more than a year since news broke that Volkswagen installed software on its diesel cars to cheat on emissions tests. While VW has worked hard to get past this scandal, many investigations and lawsuits still drag on. Still, the automaker believes it can settle its U.S. criminal investigation by the end of the year.
at the Paris Motor Show, Volkswagen Group CEO Matthias Mueller said he's hopeful that the automaker can reach an agreement with the U.S. government over the size of a monetary fine. That settlement is currently expected to cost VW multiple billions of dollars, in addition to the $16.5 billion the automaker must set aside to compensate TDI owners.
Mueller said he also sees "good progress" towards finding a fix for its 3.0-liter V6 diesel engines, which have so far proven difficult to bring into compliance.
The automaker set aside a total of $20 billion to cover the cost of this scandal, but depending on the size of its settlement with the U.S. government, that might not be enough.
"The settlement that we have ... reached with the civil authorities isn't cheap," Mueller told reporters. "We have made provisions for everything that we believe we will have to face, including fines, environmental projects, compensation to the people ... We will have to see if that's enough or not."