Bosch agrees to pay US$ 327 million in dieselgate-related settlement
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German automotive supplier Bosch entered into a US$ 327.5 million settlement agreement with civil suit claimants in the U.S. relating to the company’s involvement in the Volkswagen diesel emissions fraud scandal, according to a press release.
The settlement relates to the “most substantial part of the civil law proceedings pending in connection with Volkswagen, Audi, and Porsche diesel vehicles that were sold in the U.S.”
Notably, though, Bosch “neither acknowledges the facts as alleged by the plaintiffs nor does Bosch accept any liability” with its entrance into the settlement agreement, said the manufacturer in the statement.
These "facts as alleged" are claims that were made by class action plaintiffs back in 2015, in the early weeks of the diesel crisis. Lawyers for the plaintiffs argued Bosch helped to create the software used by the defeat devices in 2.0-liter and 3.0-liter diesel vehicles, software which detected when vehicles were being tested for emissions and adjusted their pollutant outputs accordingly. The class action plaintiffs made the argument that Bosch was a "knowing and active participant in the scheme."
“Upon careful consideration of all relevant aspects, we have in this case decided to enter into a settlement agreement. Bosch is currently undergoing the biggest transformation process in its company history. We wish to devote our attention and our resources to the transition in mobility and in other areas of activity,” stated Dr Volkmar Denner, Chairman of the Management Board of Robert Bosch GmbH.
Bosch expects the federal court overseeing the VW 2.0-liter and 3.0-liter diesel settlement to grant preliminary approval to the settlement later this month, with final approval expected in May 2017. That month Bosch is also expected to make some disclosures regarding what it actually did or did not do in relation to Volkswagen's emissions-cheating efforts.