Ex-VW Manager Released Early From Diesel-Rigging Prison Term

BLOOMBERG

Former Volkswagen AG executive Oliver Schmidt, whose 2017 arrest at the Miami airport made global headlines, was released from prison after serving a bit more than half his sentence on charges related to the diesel-emissions scandal.

The diesel scandal, exposed by American regulators in September 2015, still haunts VW. The rigging of engines to make it appear that they could pass U.S. emissions tests has cost the world’s largest automaker at least 32 billion euros ($38.7 billion). Lawsuits from disgruntled investors and customers are set to drag on for years. read more »

Ford to recall 3 million vehicles for air bags at $610 million cost

REUTERS

Ford Motor Co said on Thursday it will recall 3 million vehicles for air bag inflators that could rupture, at a cost of $610 million.

The National Highway Traffic Safety Administration on Tuesday ordered Ford to issue the recall for driver-side air bag inflators, rejecting the automaker’s 2017 petition to avoid it.

The defect, which in rare instances leads to air bag inflators rupturing and sending potentially deadly metal fragments flying, prompted the largest automotive recall in U.S. history of more than 67 million inflators. Worldwide, about 100 million inflators installed by 19 major automakers have been recalled. read more »