Volkswagen confirms $4.3bn payment over diesel emissions

The group is also planning to plead guilty to criminal misconduct as part of a deal with the US Justice Department

The Volkswagen group confirmed on Tuesday that it has negotiated a $4.3bn (3.53bn) draft settlement with US regulators to resolve its diesel emissions troubles, alongside plans to plead guilty to criminal misconduct charges.

The guilty plea is part of the deal to settle the scandal, as the carmaker looks to restore its tarnished global brand. Volkswagen (VW) said that, with the addition of the fine, its diesel scandal costs will exceed the nearly a18.2bn (15.76bn) it set aside to handle the problem. VW added that it will face oversight by an independent monitor over the next three years.