Volkswagen exec admits company's diesels in US are dead

Once upon a time, there was a magical German engine that could produce excellent fuel economy with legal levels of emissions. Then, the second part turned out to be a big fat lie. Now, 's formerly lauded TDI diesel lineup will disappear from the US for good.

Volkswagen will end the sale of its diesel vehicles in the US, Reuters reports, citing VW brand chief Herbert Diess. It was thought that VW might give it another go after the Dieselgate hullaballoo died down, but that's clearly not the case. Volkswagen confirmed that TDIs are not being sold for 2016 and 2017, but beyond that, the company could not expand upon Diess' comments.

The automaker hasn't sold a single 2.0-liter diesel in the US since 2015, when it issued a stop-sale on its diesel products after admitting to using illegal software to cheat emissions tests. TDI covered some 25 percent of the brand's US sales, and the company hopes to cover up that hole in its pocketbook with additional SUV and electric vehicle offerings.

Already, Volkswagen is making many moves to make up for the missing TDI lineup. It unveiled the three-row Atlas crossover at the LA Auto Show, built specifically for US roads and US tastes. Earlier this year, it unveiled the all-electric ID Concept that should become a production reality within five years.

Volkswagen has its sights set much wider than the US alone. The Volkswagen Group, which includes automakers like and , plans to introduce some 30 new electric models around the world by the end of the next decade. It will also sell 19 global SUV models by 2020, a large leap from the two global SUVs it currently hawks.

The automaker settled with disaffected 2.0-liter TDI owners for approximately $15 billion earlier this year, which includes vehicle buybacks and environmental remediation costs. It's expected to unveil a similar scheme for its 3.0-liter diesels, which contain unreported software that can allegedly affect emissions, as well.