Volkswagen Group admitted Tuesday evening that it has identified roughly 800,000 of its vehicles worldwide demonstrate carbon dioxide (CO2) emissions “irregularities.” The German automaker estimates the fallout from the new discovery could cost the company 2 billion euros (approximately $2.19 billion).

If your head is spinning, join the club. Just when I thought things couldn’t get worse for the VW Group, they inexplicably did. On Monday, the EPA announced it discovered emissions-cheating defeat devices on Volkswagen group 3.0-liter V6 diesel engines in the U.S., which could expand the current scandal beyond the smaller engines already under scrutiny. Read more…

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