Volkswagen reaches $232M Canadian emissions settlement

Volkswagen (OTCPK:VLKAF, OTCPK:VLKAY) says it agreed to a settlement worth up to $232M (C$290.5M) with owners of vehicles in Canada affected by its diesel emissions cheating scandal.

The agreement provides for cash payments to owners of ~20K 3.0-liter Volkswagen, Audi and Porsche diesel vehicles in Canada and is subject to court approval.

In a similar settlement last year in the U.S., VW agreed to spend at least $1.22B to fix or buy back nearly 80K vehicles with 3.0-liter engines.