VENTURE CAPITAL POST

Volkswagen reaches $1-billion deal on the last diesel cars caught in emissions scandal

The 13 automotive CEOs across the world including the Renault-Nissan Alliance has released the statement on the weekend over the commitment to reduce global emissions by providing cleaner transportation.

Alberta Premier Rachel Notley said Sunday that the New Democratic Party will limit oil-sands emissions, discontinue coal power plants, and create an economy-wide carbon price as part of a strategy to reduce pollution in Canada's most polluting province.

Numerous possible class-action proceeding have been filed in Michigan against the German automaker Volkswagen due to emission scandals. US regulators are coming up with more questions of the car behemoth.

Volkswagen board of directors will conduct an 'extraordinary' meeting. Reports say CFO Hans Dieter Poetsch will be appointed as the new head while plans for adjustments will also be discussed.

EPA called the software "defeat device" that conceals the true emissions only during testing and therefore when the cars are on the road they emit as much as 40 times the level of pollutants allowed under clean air rules making sure public health is protected, Giles said.

Toyota Motor Corp on Monday said it will introduce its first mass-market fuel cell car in the United States next year, hoping to replicate the success of its Prius hybrid with a vehicle that runs on hydrogen instead of gasoline.