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Volkswagen and the US Justice Department have successfully negotiated an agreement that would cost the automaker $4.3 billion and see it plead guilty to certain charges.
The deal is still subject to approval by Volkswagen’s board of directors, but if approved will be a success for the company and prosecutors, both of whom reportedly want to sign a deal before the Obama administration leaves office.
Volkswagen’s board of directors is expected to review the deal and approve or decline it as early as today or Wednesday.
The impact of the deal on Volkswagen’s financial health is not yet known.
The deal would be a major milestone in Volkswagen’s road back from the TDI scandal. With brand sales finally leveling off in the US and a handful of new SUVs, Volkswagen is hoping to bounce back.