Mexican Media Brands
Autoliv, TRW Fined $416 Million for Price Fixing in Europe
The European Commission has fined Autoliv and TRW for conspiring to rig prices for seatbelts, airbags and steering wheels supplied to BMW and Volkswagen Group.
#legal
Share
The European Commission has fined Autoliv and TRW for conspiring to rig prices for seatbelts, airbags and steering wheels supplied to BMW and Volkswagen Group.
The two companies must pay a combined €368 million ($416 million). The EC says now-bankrupt airbag supplier Takata Corp. was part of the conspiracy but escaped a fine in exchange for reporting the wrongdoing. The cartel operated between 2007 and 2011, according to the commission.
The fines are the latest result of a continuing global crackdown on price fixing among automotive suppliers. To date, the EC and U.S. have levied fines totaling some $5.2 billion against dozens of companies.
RELATED CONTENT
-
U.S. Lawsuit Says Bosch Conspired with VW on Cheater Diesels
A U.S. lawsuit claims Robert Bosch GmbH conspired with Volkswagen AG to equip diesel-powered vehicles with software to cheat emission tests.
-
U.S. Justice Dept. Asks VW to Delay Diesel Cheating Report
The U.S. Dept. of Justice has asked Volkswagen AG not to release findings of an independent probe into the German carmaker's diesel emission cheating scandal.
-
Tesla Sued Over Fatal Crash of Car in Autopilot Mode
Tesla Inc. has been sued by the family of a California man whose Tesla Model X crossover vehicle crashed into a highway barrier last year while the car was operating in semi-autonomous Autopilot mode.