10:00 am, November 20, 2015
BOSCH is being investigated over a possible role it may have played in the on-going Volkswagen emissions scandal.
A number of reports say that Federal prosecutors with the US Department of Justice are investigating whether Bosch’s parent company Robert Bosch GmbH, knew or participated in Volkswagen’s years-long efforts to circumvent US diesel emissions tests.
Shares in the world’s largest auto supplier fell as much as 3.65 per cent following news of the reported investigation.
Bosch built key components in the diesel engine used in six Volkswagen and one Audi model that the automaker has admitted to rigging to defeat emission tests.
It is understood that Bosch provides the engine control module, called EDC17, and basic software for nearly all the four-cylinder diesel cars sold in North America, including those produced by VW, BMW and Mercedes.
Sources quoted in the reports said that the probe is at an early stage and that there is no indication that US prosecutors have found evidence of wrongdoing at Bosch.
http://economictimes.indiatimes.com/articleshow/49854413.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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