Almost every headline that involves Volkswagen, its diesel scandal and money usually involves a quantity in the billions. It shouldn't come as a surprise, then, that VW has spent a whole lot of money cleaning up after its self-imposed mess.
To date, Volkswagen's total bill for Dieselgate is pushing $30 billion, Reuters reports. The total comes after Volkswagen announced Friday that it planned to set aside an extra $3 billion or so to cover hardware-related fixes for certain diesel models in the US.
It's different over in Europe, where a majority of the vehicles can be fixed by way of a software update and the addition of a small component. In the US, Volkswagen has been offering a mix of software fixes, the aforementioned hardware fixes and buybacks, the initial total of which was estimated at $15 billion.
Volkswagen ended up in this mess when researchers discovered a "defeat device" hidden in VW's diesel cars' computers. The cars could determine when they were being run for testing purposes, and would intentionally curb emissions during that period. When out on the open road, though, the vehicles would end up polluting well in excess of legal limits.
What followed was a very expensive worldwide apology tour., class action lawsuits have sprung up and Volkswagen's diesel engines will forever be tarnished. The company has since admitted fault, pleaded guilty in courts and committed billions to promoting alternative powertrain technologies, including electricity.