Volkswagen AG is in the mist of one of the biggest scandals in company history after it was discovered that it installed software that switched engines to a cleaner mode during emissions testing in order to pass. The software then returned to the car to normal for daily road use, emitting as much as 40 times the legal pollution limit.
VW shared plunged 19 percent yesterday after a fall of 17 percent on Monday.
It looks like it’s going to be long road to recovery for VW which must fix the problem on 11 million diesel engines worldwide. The company is setting aside $6.5 billion to cover the fallout.
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