Revise Volkswagen Settlement: ChargePoint Inc.

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The world's largest electric vehicle charging network, ChargePoint Inc. as asked a U.S. judge to review and order changes to Volkswagen' $2 billion agreement of the diesel scandal.

The company has asked the Justice Department to boost zero emission vehicle (ZEV) infrastructure by revising the settlement. This is mainly attributed to VW pumping nearly $2 billion on improving ZEV infrastructure and education.

ChargePoint operates more than 30,000 charging stations and the VW diesel cheating scandal settlement threatens its survival and other charging station companies.

Volkswagen had agreed to spend up to $16.5 billion settlement with the U.S. owners, state and federal regulators and dealers post its agreement to installing software to cheat the emission levels.

Under the proposed settlement, VW should spend $2 billion over the next 10 years to build infrastructure, access, and education to support advance ZEVs which includes $800 million in California.

This funding will drown all other participants of the ZEV infrastructure market via enormous spending, made at its unfettered discretion, that is untethered to the normal constraints and financial metrics by which all other market participants must operate, said ChargePoint.

In simple terms, by spending $2 billion of the ZEV infrastructure will threaten all other participants in the program.

The Justice Department had rejected ChargePoint argument back in September 30 filing stating that it believes that ZEV infrastructure is likely to increase in the coming years and will allow "for continuing competition in these emerging markets."

The company said, VW would drive out all competition by offering free or subsidised charging. The U.S. District Judge Charles Breyer will hear as to whether to grant final approval to the settlement on October 18, 2016.

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