German automaker Volkswagen announced last 10 December that only a small group of employees was responsible for cheating U.S. diesel emissions tests and there was no indication board members were involved in the biggest business crisis in the carmaker's history.
Chairman Hans Dieter Poetsch said investigations into the affair were going well, but the scandal was the result of a "chain of errors" and it would still take months to say which individuals were to blame.
Europe's biggest motor manufacturer said it had agreed steps to improve oversight of engine-software development to avoid any future emissions test manipulations.
It also hoped to reach agreement with U.S. environmental authorities in the next few days or weeks so the company can start to recall affected cars there. Cooperation with those authorities was described as "excellent".
VW admitted in September it had cheated U.S. emissions tests and installed software capable of deceiving regulators on up to 11 million diesel vehicles worldwide, news that wiped billions of euros off its market value and forced out its long-time CEO.
Chairman Hans Dieter Poetsch said investigations into the affair were going well, but the scandal was the result of a "chain of errors" and it would still take months to say which individuals were to blame.
Europe's biggest motor manufacturer said it had agreed steps to improve oversight of engine-software development to avoid any future emissions test manipulations.
It also hoped to reach agreement with U.S. environmental authorities in the next few days or weeks so the company can start to recall affected cars there. Cooperation with those authorities was described as "excellent".
VW admitted in September it had cheated U.S. emissions tests and installed software capable of deceiving regulators on up to 11 million diesel vehicles worldwide, news that wiped billions of euros off its market value and forced out its long-time CEO.
No comments:
Post a Comment