Volkswagen agrees $10bn US emissions settlement

Volkswagen will pay owners of its polluting diesel cars up to $7,000 (€6,160) and agree to fund a grant program to offset air pollution, under a $10bn settlement being negotiated for submission to a federal judge next week, people familiar with the talks said.

VW will provide cash payments worth between $1,000 and $7,000, depending on the vehicle’s age and other factors, to compensate consumers, the people said.

All spoke on the condition they not be identified because US district judge Charles Breyer, who is supervising the settlement discussions, has imposed a gag order.