• Volkswagen CEO Martin Winterkorn

Volkswagen CEO Martin Winterkorn (Photo : Reuters)

olkswagen's (VW) CEO Martin Winterkorn issued an apology on September 23, Tuesday for the car manufacturer's recent cheating scandal involving hacked software of diesel-powered cars, which produced false emissions test readings. This is in the midst of rumors in the German media that the automaker has lost support among its major shareholders after accusations made by the United States' Environmental Protection Agency (EPA).

Like Us on Facebook

Reuters reported that VW's Supervisory Board will meet on Wednesday to talk about the crisis. It will also prepare for Friday's board meeting.

U.S. regulators have accused the German automaker of tweaking its vehicles' software. This produced fake readings that caused diesel-powered cars to run cleaner during emissions tests. It involved around half a million vehicles.

The EPA prefers to run engine diagnostics rather than measuring tailpipe emissions. It has accused VW of hacking its own diesel cars to send phony data about nitrous oxide levels, according to Ecomento.

VW has added that the vehicular software could involve 11 million vehicles globally, according to Forbes. It promised to spend $7 billion to fix the problem.

Winterkorn stated that the company does not have all the answers about the diesel engines' problems. It is working with government groups to fix them.

VW's CEO also mentioned that the software issue is a top priority of the company. It hopes to win back the trust of its customers, workers, and the public.

He explained that he was "deeply sorry" about breaking people's trust. The company will try to reverse the damage done.

Winterkorn praised Volkswagen's 600,000 employees for their dedication and honesty, and hopes they will not be blamed for the actions of employees responsible for the software scandal. A couple workers made those "mistakes."

Volkswagen was founded in 1937. It is the world's second-biggest automaker, trailing Toyota.  

In this video VW's CEO admits that the company made a mistake: