Bosch has followed hard on the heels of Volkswagen in reaching civil settlements of US$328m in the US in connection with VW, Audi and Porsche vehicles, although the German supplier is at pains to stress “no acknowledgement of the alleged facts, no acceptance of any liability.”
The agreement would settle the claims of consumers and dealers of used vehicles against Bosch, its affiliates, employees, and directors concerning Volkswagen and Audi diesel vehicles with 2.0L engines for model years 2009 through 2015 and Volkswagen, Audi, and Porsche diesel vehicles with 3.0L engines for model years 2009 through 2016.
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For this purpose, Bosch will pay a total amount of USD328m, although by agreeing the settlement, Bosch neither acknowledges the facts as alleged by the plaintiffs nor does Bosch accept any liability.
“Upon careful consideration of all relevant aspects, we have in this case decided to enter into a settlement agreement,” said Bosch chairman, Volkmar Denner. “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.”
The settlement agreement now reached requires the approval by Judge Charles Breyer, who conducts the nationwide multi-district proceedings in which numerous civil law actions have been combined. In a hearing scheduled for 14 February, the Court will consider to grant preliminary approval of the settlement agreement and class members will then be informed of their rights and options.
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By GlobalDataIt is proposed the Court considers final approval of the settlement agreement in early May. The settlement agreement concerns only civil law claims.
“As it has done since allegations have first been made public, Bosch will continue to defend its interests in all other civil and criminal law proceedings and to cooperate comprehensively with the investigating authorities in Germany and in other countries,” noted a Bosch statement.
Yesterday (2 February) parent company Volkswagen AG and Volkswagen Group of America, said they had reached proposed agreements to resolve outstanding civil claims regarding around 78,000 affected vehicles with three-litre TDI V6 diesel engines in the US.
Data from just-auto’s QUBE service shows in 2015, Bosch Mobility Solutions outperformed worldwide automobile production, benefiting from demand for efficient powertrain systems and a substantial increase in market demand for driver assistance systems and display and infotainment systems.
In powertrain technology, there was particularly strong demand once again in 2015 for gasoline direct injection systems, engine management systems, transmission control systems, air management components, and sensors.
In diesel technology, Bosch increased revenue thanks in particular to further growth in demand for modern fuel-injection and exhaust-gas treatment systems.
