On Monday, the Environmental Protection Agency announced it had approved a fix for the remaining 38,000 Volkswagen Group vehicles equipped with emissions-cheating 3.0-liter diesel engines.
That’s potentially very good news for Volkswagen, as it’s a decision that could save the company a truckload of cash.
In May, VW agreed to spend over $1.22 billion to repair or buy back nearly 80,000 vehicles with 3.0-liter engines as part of its “dieselgate” settlement. The manufacturer was also obliged to pay owners of fixed units between $8,500 and $17,000. However, there was an additional fine of $4.04 billion if the EPA and California Air Resources Board were unwilling to approve repairs on all 3.0-liter vehicles.
With a fix now in place for 38,000 Porsche Cayenne, Volkswagen Touareg, and Audi Q7 SUVs, the company may have just saved itself a over a billion dollars.
SEE ALSO: Porsche Going After Audi for Dieselgate Damages: Report
According to , which broke the news even before the EPA, Volkswagen has stated it is pleased with the approval and will continue working with regulators to develop fixes for remaining vehicles “as quickly as possible.”
All in, Volkswagen Group has acquiesced to spend up to $25 billion in the United States to manage claims from owners, states, dealers, and regulatory fines resulting from its diesel emissions scandal.
The Porsche and Volkswagen vehicles involved in this fix were built from the 2013 to 2015 model years. Affected Audi vehicles were produced from 2013-2016.
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