Volkswagen managers do not expect an agreement with U.S. authorities on the emissions-rigging scandal before the end of March, according to a German media source. The reporting follows a raid by South Korean prosecutors on the local offices of Volkswagen Friday as part of their investigation into the scandal.
South Korean investigators seized computer hard drives and documents from VW’s office in Seoul and from the home of at least one senior manager.
A VW spokesman told the French News Agency, “We have made clear that we will fully cooperate with the investigation.”
The auto company is facing legal actions after it admitted in September to falsifying emission test results on some of its diesel-engine vehicles in the U.S. Other countries later began their own investigations.
Market analyst Alastair McCaig of the London-based IG online trading company said VW’s brand would be “tarnished” by the scandal for some time, adding “it’s only going to take time and effort and good will to see that rectified.”
Source: VOA [xyz-ihs snippet=”Adsense-responsive”]
