Volkswagen currently has two partnerships with Chinese auto companies. (Photo : Reuters)
In the aftermath of the emission scandal that Volkswagen is currently facing, the company's chief in the United States issued an apology to lawmakers and customers alike promising this time to "make things right."
According to The Telegraph, in a written remark issued before the congressional hearing scheduled on Oct. 8, Volkswagen Group of America chief executive Michael Horn said, "I did not think something like this was possible at Volkswagen Group. These events are fundamentally contrary to Volkswagen's core principles. They do not reflect the company that I know and to which I have dedicated 25 years of my life."
The German automaker has also apologized to its customers. On top of that, the company also admitted the installation of so-called defeat devices in about 482,000 diesel vehicles in the US and 11 million worldwide that cheated emission test results.
According to the Los Angeles Times, the software installed on affected vehicles lowered the amount of nitrogen oxide emitted when undergoing emission tests. Where in fact in real world streets, the cars emit 40 times more nitrogen oxide than legally allowed.
Volkswagen is facing $18 million in fines in the US alone and the company is also liable to criminal charges.
Following the discovery of the cheating scheme, Volkswagen chief executive Martin Winterkorn resigned in September. Winterkorn's resignation caused Volkswagen's stock price to decline.
In order to pacify rage from owners, Volkswagen introduced the Owner Loyalty Bonus. The new reward program is offering current Volkswagen owners a $2,000 incentive if they decide to purchase new vehicles.
