VW Will Buy Back or Fix Diesel Vehicles

Volkswagen has finally reached a deal with the US to settle up over its emissions cheating scandal, the AP reports. A judge says an agreement will give consumers who bought nearly 600,000 VW vehicles rigged to cheat on emissions tests the option of having the automaker buy back the cars or fix them. Senior US District Judge Charles Breyer didn't give details Thursday on how much car owners would be paid, but he said the deal between Volkswagen, the US government, and private lawyers would include "substantial compensation." He gave lawyers until June 21 to hammer out details of the compensation and buyback offers

The agreement will include a fund for corrective efforts over the excess pollution, and VW will be required to commit other money to promote green automotive technology. The owners and the US Department of Justice sued the company after it acknowledged in September that it intentionally defeated emissions tests and put dirty vehicles on the road. (More Volkswagen stories.)