VW to pay $4.3 billion fine

Volkswagen has reached a deal with the federal government to pay $4.3 billion to resolve a criminal investigation into its cheating on emissions tests, the company said Tuesday.

As part of the settlement, the company will plead guilty to criminal charges.

The company’s management board must still approve the payment, which includes both criminal and civil fines. The civil part of the fines include environmental and customs-related penalties.

Chronicle News Services