Bosch sets aside €650m for Volkswagen related risks

Robert Bosch GmbH stated on Wednesday that it would put aside €650m ($735m) for legal risks for FY 2015, after it emerged that the company had supplied Volkswagen AG with software used to cheat on emissions tests.

The news comes in the wake of Volkswagen disclosing plans to buy back about 480,000 vehicles in an attempt to limit damage caused by the emissions scandal.

Bosch had provided two components used in Volkswagen’s vehicles.

Source: WSJ