Volkswagen's expensive lesson on the stakes of sustainability

Last Modified: Thu Sep 01 2016 06:29:16 GMT+0530 (India Standard Time)
  • $14.7 billion
    settlement announced 28-Jun-2016 for the owners of some 475,000 impacted U.S. cars on account of European automotive giant Volkswagen's deliberate manipulation of diesel emission testing revealed last fall.
  • 2nd
    largest payout in the history of corporate environmental misdeeds behind BP's $20 billion Gulf Oil Spill payout finalized last year.
  • 10 million
    + impacted vehicles worldwide that are not included in the payouts.
  • $2.7 billion
    settlement in which Volkswagen will pay the Environmental Protection Agency to compensate for previously unknown contributions to climate change.
  • $2 billion
    the company committed to investing in new clean car development. based on a recommendation from environmental advocacy groups including the Sierra Club.
  • 30
    all-electric models,Volkswagen CEO Matthias Muelle said, the company is now aiming to launch by 2025 as part of a plan to sell 2-3 million EVs per year by that date. Those figures, if realized, would account for 20-25 percent of the company's 10 million annual car sales.