• Sign in to follow this  
    Followers 0

    As the Diesel Emits: Volkswagen Decides Not To Talk About the Preliminary Findings of The Investigation


    • Volkswagen revealing the preliminary results of the internal investigation this month; yeah about that...


    Volkswagen was planning to release the preliminary findings of its internal investigation into the diesel emission scandal this month. But now, the company has scrapped those plans. In a statement, the German automaker cites strong objections from their lawyers and “unacceptable risks” to the company.

     

    But there might be more this than what Volkswagen is saying. Last week, Volkswagen finally reached a deal with the U.S. Government over the emission mess. By releasing the results, it might put Volkswagen in a difficult sport.

     

    “Publishing such a preliminary report would not only endanger the complex and confidential settlement talks [with authorities and plaintiffs], it would also have a negative effect on ongoing investigations as individuals who have yet to be questioned could align their statements with the contents of the report. We must avoid this,” said Volkswagen board director Wolfgang Porsche to reporters in Wolfsburg.

     

    It isn't being helped that the investigation has hit a few bumps in the road. According to Automotive News, the Jones Day law firm - hired by Volkswagen to do the investigation - have so far failed define key points of the scandal. Bloomberg goes on to say that the firm has been confounded by engineers using code words to describe the illegal software and outdated computer systems.

     

    The final investigation report is not expected until the fourth quarter of the fourth year.
    Source: Automotive News (Subscription Required), Bloomberg, Volkswagen

     

    Press Release is on Page 2


     


    Statement by Volkswagen AG regarding the status of the comprehensive investigation in connection with the diesel matter

     

    At the end of September 2015, the Supervisory Board of Volkswagen Aktiengesellschaft assigned law firm Jones Day with a comprehensive investigation in connection with the diesel matter. This investigation is already far advanced and is being pursued intensely. For this purpose, approximately 65 million documents were submitted for electronic review, of which more than 10 million were forwarded for review by Volkswagen's lawyers. Around 450 interviews have also been conducted about the diesel matter; dozens of additional interviews are planned. Based on the current assessment, Jones Day expects the investigation to conclude in the fourth quarter of 2016.

     

    After a thorough examination of the legal situation, the Supervisory Board and the Management Board of Volkswagen have nevertheless had to recognize that a disclosure of interim results of the investigation at this point in time would present unacceptable risks for Volkswagen and, therefore, cannot take place now. This decision is based on the assessment of the U.S. law firms retained by Volkswagen (Sullivan & Cromwell and Jones Day), which have both strongly advised against such a disclosure independently of each other.

     

    Volkswagen regrets that it has had to move away from the original plan to disclose interim results of the investigation by the end of April. The reasons lie in the following developments in proceedings involving Volkswagen in connection with the diesel matter in the United States:

     

    Volkswagen's complex negotiations with a large number of parties in the United States (including private plaintiffs and multiple U.S. regulators, including the Environmental Protection Agency (EPA), the California Air Resources Board (CARB), the Federal Trade Commission, the Attorneys General of each of the 50 states, and, in particular, the U.S. Department of Justice) have entered a decisive phase sooner than anticipated and require Volkswagen to maintain the highest degree of confidentiality. The extensive and confidential nature of these negotiations and Volkswagen's cooperation with the Department of Justice restrict Volkswagen´s ability to comment further on necessarily tentative results of the continuing investigation.

     

    The further disclosure or characterization of interim results, which are currently available, would likely prejudice the rest of the investigation at this time, in particular because individuals who have yet to be questioned could align their statements with the contents of the interim report.

     

    In counsel's view, a disclosure would also significantly impair Volkswagen's cooperation with the Department of Justice and weaken Volkswagen's position in any remaining proceedings.

     

    In counsel's view, such disclosure could also jeopardize the credit that Volkswagen may expect to receive in the event of its full cooperation with the Department of Justice. According to Volkswagen's legal advisers, this could have very substantial negative financial consequences.
    lf a full settlement can be achieved with the Department of Justice, the Supervisory Board and the Management Board currently expect that a detailed statement of the facts of this matter will be made public in the U.S. at that time. This is because the settlement of a criminal investigation with the Department of Justice is customarily accompanied by a detailed statement of facts, agreed to by the parties.

     

    Volkswagen explicitly regrets that it is not able to publish interim results by the end of April as initially planned. However, due to the reasons outlined above, the Management Board and the Supervisory Board see themselves forced to refrain from a disclosure in the interest of the company.

    0


      Report Article
    Sign in to follow this  
    Followers 0


    User Feedback


    At this point, the report would probably increase the criminal investigations and fines and really bankrupt VW. So for them at this point, better to buy back the cheating crap and destroy it and move on.

     

    Still like to know how much they will pay for buying back the auto's and if the CEO really knew as little as he claims. I find this hard to believe.

    0

    Share this comment


    Link to comment
    Share on other sites


    Your content will need to be approved by a moderator

    Guest
    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   You have pasted content with formatting.   Remove formatting

    ×   Your link has been automatically embedded.   Display as a link instead

    Loading...



  • Popular Stories

  • Today's Birthdays

    1. BowTieFarmer
      BowTieFarmer
      (57 years old)
    2. will75
      will75
      (41 years old)
  • Similar Content

    • By William Maley
      The diesel emission scandal has left Volkswagen battered and bruised. In an effort to try and salvage their image and business, the company is going all in on electric vehicles. Before the start of the Paris Motor Show, Volkswagen revealed the I.D. concept. Volkswagen says this concept when it goes into production in 2020 will be as groundbreaking as the Beetle.
      We don't know much about the I.D. except for some details,
      About the size of a Golf Uses Volkswagen's new Modular Electric Drive Kit (MEB) Electric motor produces 125kW Total range between 400 to 600 Kilometers (about 249 to 373 Miles) Not sure if this means the vehicle will feature different battery options Fully autonomous mode for the model coming in 2025 We'll have more details when the I.D. makes its auto show debut tomorrow. 
      Source: Volkswagen
      Press Release is on Page 2


      I.D. – THE WORLD PREMIERE
      Sep 28, 2016
      Paris Motor Show - Mondial de l'Automobile 2016
      World premiere of the I.D. starts the countdown to a new era for Volkswagen Volkswagen plans for the visionary I.D. to hit the road in 2020 An ambassador: the I.D. is the first Volkswagen of a new fleet of electric cars It runs and runs: the I.D. has a range of 400 to 600 kilometres Ready for the future: the I.D. concept car demonstrates a fully automated mode for the year 2025 Key facts – the I.D. in keywords
      1. I.D. is the first Volkswagen in a completely new fleet of highly innovative electric vehicles.
      2. I.D. is immediately recognisable as a zero-emission vehicle thanks to a newly developed design DNA for electric cars.
      3. I.D. is driven by an electric motor with an output of 125 kW and has a range of between 400 and 600 kilometres on a single battery charge.
      4. I.D. has an interior that offers an entirely new spatial experience with the Open Space.
      5. I.D. will be launched as a compact electric car in 2020 parallel to the Golf.
      6. As a concept car, I.D. gives us a first tangible glimpse of fully automated driving – this mode will be offered from 2025 onwards.
      7. I.D. retracts its multifunction steering wheel into the dashpad when in fully automated mode ("I.D. Pilot").
      8. I.D. can receive parcels using a new delivery service, if its owner isn't at home.
      9. I.D. is the first compact Volkswagen based on the Modular Electric Drive Kit (MEB).
      10. Volkswagen has set itself the goal of selling a million electric cars a year by 2025.

      View full article
    • By William Maley
      The diesel emission scandal has left Volkswagen battered and bruised. In an effort to try and salvage their image and business, the company is going all in on electric vehicles. Before the start of the Paris Motor Show, Volkswagen revealed the I.D. concept. Volkswagen says this concept when it goes into production in 2020 will be as groundbreaking as the Beetle.
      We don't know much about the I.D. except for some details,
      About the size of a Golf Uses Volkswagen's new Modular Electric Drive Kit (MEB) Electric motor produces 125kW Total range between 400 to 600 Kilometers (about 249 to 373 Miles) Not sure if this means the vehicle will feature different battery options Fully autonomous mode for the model coming in 2025 We'll have more details when the I.D. makes its auto show debut tomorrow. 
      Source: Volkswagen
      Press Release is on Page 2


      I.D. – THE WORLD PREMIERE
      Sep 28, 2016
      Paris Motor Show - Mondial de l'Automobile 2016
      World premiere of the I.D. starts the countdown to a new era for Volkswagen Volkswagen plans for the visionary I.D. to hit the road in 2020 An ambassador: the I.D. is the first Volkswagen of a new fleet of electric cars It runs and runs: the I.D. has a range of 400 to 600 kilometres Ready for the future: the I.D. concept car demonstrates a fully automated mode for the year 2025 Key facts – the I.D. in keywords
      1. I.D. is the first Volkswagen in a completely new fleet of highly innovative electric vehicles.
      2. I.D. is immediately recognisable as a zero-emission vehicle thanks to a newly developed design DNA for electric cars.
      3. I.D. is driven by an electric motor with an output of 125 kW and has a range of between 400 and 600 kilometres on a single battery charge.
      4. I.D. has an interior that offers an entirely new spatial experience with the Open Space.
      5. I.D. will be launched as a compact electric car in 2020 parallel to the Golf.
      6. As a concept car, I.D. gives us a first tangible glimpse of fully automated driving – this mode will be offered from 2025 onwards.
      7. I.D. retracts its multifunction steering wheel into the dashpad when in fully automated mode ("I.D. Pilot").
      8. I.D. can receive parcels using a new delivery service, if its owner isn't at home.
      9. I.D. is the first compact Volkswagen based on the Modular Electric Drive Kit (MEB).
      10. Volkswagen has set itself the goal of selling a million electric cars a year by 2025.
    • By William Maley
      It has been a mixed few days at Audi. Last Friday, sources told Reuters that no evidence was found that Audi CEO Rupert Stadler knew about the illegal cheating software. Stadler was questioned earlier in the week by U.S. law firm Jones Day - the group brought in by Volkswagen to conduct an internal investigation. Stadler's questioning came around the same time as media reports saying that Audi was more entangled in the diesel emission scandal than previously thought.
      "Nothing burdensome against Stadler was found," said a source.
      Then on Monday, Audi's r&d head Stefan Knirsch stepped down from his post and left the company. As we reported last week , Knirsch reportedly knew about the illegal software and lied about under oath during an internal investigation. At the time, Knirsch was going to be suspended. In a statement, Audi said Knirsch would be leaving immediately. The company did not say the reason for his departure or who would take his place.
      Source: Reuters, 2

      View full article
    • By William Maley
      It has been a mixed few days at Audi. Last Friday, sources told Reuters that no evidence was found that Audi CEO Rupert Stadler knew about the illegal cheating software. Stadler was questioned earlier in the week by U.S. law firm Jones Day - the group brought in by Volkswagen to conduct an internal investigation. Stadler's questioning came around the same time as media reports saying that Audi was more entangled in the diesel emission scandal than previously thought.
      "Nothing burdensome against Stadler was found," said a source.
      Then on Monday, Audi's r&d head Stefan Knirsch stepped down from his post and left the company. As we reported last week , Knirsch reportedly knew about the illegal software and lied about under oath during an internal investigation. At the time, Knirsch was going to be suspended. In a statement, Audi said Knirsch would be leaving immediately. The company did not say the reason for his departure or who would take his place.
      Source: Reuters, 2
    • By William Maley
      If there is one bright spot in Volkswagen, it has to be their commercial division. Through August, the division has seen sales increase 8.2 percent to 308,500 models. With their success, it should come as no surprise they are considering moving into other markets such as the U.S.
      Eckhard Scholz, Volkswagen's commercial vehicles division CEO tells Reuters that the United States "are still a highly interesting market." A lot of this comes from many commercial vehicle manufacturers operating in the U.S. are taking ideas from their European counterparts. But when asked about possibly selling vehicles in the U.S., Scholz said,
      "A lot of things come to mind but at the moment I have nothing concrete to say."
      Volkswagen's commercial division handles the Caddy, Transporter, and Crafter vans, along with the Amarok pickup. 
      This isn't the first time that Volkswagen has considered bringing over some of their commercial vehicles. Last year, then CEO of Volkswagen of America, Michael Horn said the automaker was looking at possibly bringing over one of their vans into the U.S.
      But there is a big elephant in the room; the diesel emission scandal. A fair number of commercial vehicle buyers like diesel engines for fuel economy and the ability to handle heavy loads. But Volkswagen may have a very difficult time trying to get diesel engines certified in the U.S. They might have to go with gas engines for the time being which could limit their appeal. 
      Source: Reuters

      View full article
  • Recent Status Updates

  • Who's Online (See full list)