WOLFSBURG (dpa-AFX) - Volkswagen AG (VWAGY.PK) anticipates a potential financial impact of 1.5 billion euros, equivalent to $1.6 billion, in the current year as it might not meet the European Union car emission standards, according to several media reports.
Rolf Woller, Volkswagen's head of investor relations, told analysts that the anticipated costs include potential penalties for exceeding the EU's new standards.
The automaker also plans to sell more electric vehicles than combustion engine vehicles to meet the new emission rules, which might impact the earnings, the reports added.
Wednesday, Volkswagen closed at $9.98, down 0.05 percent on the OTC Markets.
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