Print Edition - 2017-02-02  |  Money Digest

Bosch to pay out $327.5 million


Feb 2, 2017-

German car parts maker Bosch said Wednesday it will pay out some $327.5 million (303 million euros) in compensation to US buyers and dealers of Volkswagen-made diesel cars affected by the ‘dieselgate’ scandal. Bosch made some elements of the sophisticated software, known as “defeat devices”, that VW installed in 11 million diesel engines worldwide to minimise emissions during regulatory testing. Bosch said in a statement that a compensation agreement “would settle the claims of consumers and dealers of used vehicles against Robert Bosch GmbH, its affiliates, employees, and directors” in the United States. US customers who bought vehicles from Volkswagen and Audi with 2.0-litre diesel engines between 2009 and 2015, as well as 3.0-litre VW, Audi and Porsche cars produced between 2009 and 2016, will receive compensation.

Published: 02-02-2017 09:49

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