VW reaches settlement with German consumers over ’emissions gate’: a one-time compensation of 830 million euros

The “collective prosecution of German consumers” that has plagued the public for years has finally come to an end. Volkswagen has reached an agreement with VZBV, the German consumer group, to settle claims filed by hundreds of thousands of owners of diesel cars,media reported. Volkswagen said it had agreed to pay 830 million euros (about 6.28 billion yuan) and would make every effort to make a one-off payment as soon as possible.

VW reaches settlement with German consumers over 'emissions gate': a one-time compensation of 830 million euros

Last September, more than 400,000 German car owners signed a class-action lawsuit against cheating on emissions tests, and VZBV, a German consumer group, filed a petition in court seeking financial compensation from those who had been deceived and affected.

Earlier this month, talks broke down between Volkswagen and VZBV, a German consumer group, and offered to skip the German consumer group VZBV to pay direct compensation to diesel car owners. Subsequently, on the recommendation of the local German court, the two sides resumed negotiations in an attempt to reach a settlement.

Volkswagen agreed to pay 830 million euros as part of the settlement, the company said in an emailed statement. Hiltrud Werner, Volkswagen’s head of legal affairs, said in a statement that the agreement represented “a fair and verifiable solution” and that the company “will now make every effort to make a one-time payment as soon as possible.”

The class-action lawsuit against German car owners is set to end soon after VW agreed to pay 830 million euros.

So far, VW has paid about $33 billion (about 228.9 billion yuan) in fines for emissions. But the impact of the incident on Volkswagen will continue for a long time.