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WASHINGTON: Volkswagen AG has agreed to a $1 billion settlement to fix or buy back another 80,000 polluting diesel vehicles sold in the United States as the German automaker on Tuesday took new steps to put its emissions cheating scandal behind it
LONDON: Europe’s drivers are ditching diesel cars in favour of petrol. The oil market is handing them something of a lucky break as they do.
FRANKFURT: Volkswagen AG’s namesake brand and its upscale sister marque Audi are offering as much as 10,000 euros (US$11,800) per car in incentives in Germany to trade in older diesel models for new ones that spew out fewer emissions as political pressure to fight pollution intensifies ahead of general elections.
BERLIN: Swedish carmaker Volvo will not develop any new diesel engines as the cost of reducing emissions of nitrogen oxide is becoming too expensive, chief executive Hakan Samuelsson was quoted as saying.
MELAKA: Petronas through its subsidiary, Malaysian Refining Company Sdn Bhd (MRCSB), plans to invest more than RM1.5bil to increase the production of Euro 5 diesel for domestic consumption.
BERLIN: Owners of older diesel cars in German cities where the air is particularly polluted should be able to choose between trade-in incentives and a hardware upgrade, coalition parties have agreed according to a paper seen by Reuters.
RIO DE JANEIRO/SAO PAULO: Brazilian state-run oil firm Petroleo Brasileiro SA hiked diesel prices on Wednesday, and executives said the firm could expand its already aggressive divestment plan while arguing the company was completely free of political interference.
PARIS: France aims to end the sale of gasoline and diesel vehicles by 2040 and become carbon neutral 10 years later, Ecology Minister Nicolas Hulot said at a presentation of measures to keep up momentum on the Paris climate agreement.
MUNICH: Volkswagen AG’s Audi unit agreed to pay an 800 million-euro (US$926mil) fine for its role in the diesel-cheating scandal that has disrupted the car industry for more than three years and landed Audi’s longtime leader in jail.