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Volkswagen announces it will recall 8.5 million cars across the European Union

On October 15th Volkswagen announced it would recall 8.5 million cars across the European Union. This came as a result of an order from German regulators in the KBA. Globally the company could be required to recall 11 million vehicles, which some analysts have estimated could cost Volkswagen $40 billion. The company has until the end of November in Germany to explain how it can fix the problem. The New York Times reports the EPA plans to issue a recall once it is satisfied with VW’s proposed fix.