In just a week the VW emissions scandal has wiped a third of the carmaker’s value and become a bigger threat to the German economy than the Greek debt crisis
Volkswagen is told to recall 482,000 cars in the US after it is caught deploying sophisticated software to cheat emissions tests and allow its cars to produce up to 40 times more pollution than allowed. The Environment Protection Agency claims VW installed defeat devices, meaning the cars only cut their nitrogen oxide (NOx) pollution during certification tests. Its investigation was prompted by research by the International Council on Clean Technology (ICCT), which had finally forced VW to admit its actions.
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Source: Guardian Environment