Fresh off the press:
"WASHINGTON (Reuters) - Volkswagen AG and U.S. officials have reached a framework deal ahead of a Thursday court deadline offering to buy back hundreds of thousands of vehicles emitting up to 40 times legally allowable pollution, two sources briefed on the matter said Wednesday.
The German automaker is expected to tell a federal judge in San Francisco Thursday that it has agreed to offer to buy back up to 500,000 2.0-liter diesel U.S. vehicles that used sophisticated software to evade U.S. emission rules.
Volkswagen has also agreed to a compensation fund for owners, but it is not clear how much owners might receive, a person briefed on the matter said.
Volkswagen may also offer to repair polluting diesel vehicles if U.S. regulators approve the fix as workable at a future date, the sources said.
VW will pay cash compensation to owners who either sell their vehicles back or get them fixed, a source briefed on the matter said. Owners selling back their vehicles will get an additional cash payment on top of receiving the estimated value of the vehicles from before the emissions scandal became public in September 2015."
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