In this Oct. 5, 2015, file photo, the VW sign of Germany's Volkswagen car company is displayed at the building of a company's retailer in Berlin. (AP Photo/Markus Schreiber, File)
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Volkswagen AG's settlement with nearly 500,000 U.S. customers and government regulators over polluting diesel vehicles is valued at more than $15 billion cash, two sources briefed on the matter said Monday.The settlement, to be announced Tuesday in Washington, includes $10.033 billion to offer buybacks to owners of about 475,000 polluting vehicles and nearly $5 billion in funds to offset excess diesel emissions and boost investment in zero emission vehicles, the sources said.VW shares jumped as much as 4.7 percent on the news and were trading up 2.9 percent at 109.2 euros by 1002 GMT.Speaking on condition of anonymity, due to court-imposed gag rules, the first sources said owners of 2.0 liter diesel VW 2009-2015 cars would receive at least $5,100 compensation along with the estimated value of the vehicles as of September 2015, before the scandal erupted.The diesel offset fund could rise if VW has not fixed or bought back 85 percent of the vehicles by mid-2019, the first sources said.VW still must reach agreement with regulators on whether it will offer to buy back 85,000 larger 3.0 liter Porsche, Audi and VW cars and SUVs that emitted up to nine times legally allowable pollution and how much it may face in civil fines for admitting to violating the Clean Air Act.
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