"The Volkswagen needs a new beginning, which includes new personnel policy. I am clearing the way for this fresh start with my resignation" Winterkorn said.
Meanwhile VW board member Wolfgang Porsche said that Martin Winterkorn did not know anything about emission tests falsification, but still resigned.
On Tuesday, Volkswagen chief executive Martin Winterkorn admitted the company had installed emissions cheating devices in as many as 11 million cars sold worldwide.
Senator Blumenthal stated that companies that violate auto-safety laws must face "real and meaningful criminal and financial penalties."
According to the EPA criterion, Volkswagen could face up to $18 billion in fines.
Winterkorn stated the company will set aside approximately $7.2 billion to deal with the fallout of the emissions cheating scandal. Volkswagen’s stock dropped 20 percent on Monday, on the news of the cheating scandal.
The cheating device allowed Volkswagen’s diesel passenger cars to pass laboratory emissions tests, while emitting up to 40 times the amount of air pollutants allowed under the US Clean Air Act during regular operation.
