Volkswagen announced Tuesday that it will be repairing up to 11 million vehicles in an attempt to salvage its damaged reputation following its recent emission scandal.
Newly-appointed CEO Matthias Müller, who replaced disgraced former Chief Executive Martin Winterkorn as the head of Volkswagen, stated that a project team has put together "a comprehensive action plan" over the weekend. He further stated that the company will soon be informing affected customers about how they can have their vehicles refitted, according to Reuters.
Analysts have projected that the refitting of the affected vehicles may cost the company an additional $6.5 billion.
Apart from the refitting, Volkswagen also stated that it would submit its technical solution stop regulators and environmental authorities for approval in October. A number of websites that will provide affected customers with pertinent information will also be launched, reported The Wall Street Journal.
The massive emissions scandal has severely affected the reputation of Volkswagen, which is widely considered as one of the world's top automakers. Immediately after the company admitted that it has installed software designed to cheat emission tests in a number of its diesel vehicles, it's stock prices plummeted, losing a third of its value in an extremely short time.
It was also revealed recently that 2.1 million Audi vehicles are equipped with the controversial defeat device that lowers the cars' emission levels during road tests.
