Volkswagen to pay diesel owners up to $7,000 - | Chattanooga News, Weather & Sports

Volkswagen to pay diesel owners up to $7,000

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Volkswagen will pay owners of its diesel vehicles up to $7,000 according to a report by Bloomberg news Thursday.

The German automaker will also fund a grant program to help offset air pollution as part of a $10 billion settlement that will go before a federal judge next week.

The cash payments to VW diesel owners will range between $1,000 and $7,000 depending upon the age of the vehicle and other factors.

The environmental remediation program is a key priority for regulators looking to undo the damage of 482,000 diesel cars that emit up to 40 times the permitted amounts of smog-forming nitrogen oxides. 

VW may not be able to repair all of the affected cars to appease the EPA, which could result other compensation paid to the environmental fund.

Volkswagen has admitted that since 2009 it rigged software in its cars to pass American emission tests. A settlement agreement is expected June 28

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