Mexican Media Brands
China Fines NSK, NTN for Violating Anti-Monopoly Rules
China's National Development and Reform Commission has levied fines of 2.9 billion yen ($28 million) against NSK Ltd. and 1.9 billion yen ($18 million) against NTN Corp. for overcharging customers for its automotive bearings.
#regulations
Share
China's National Development and Reform Commission has levied fines of 2.9 billion yen ($28 million) against NSK Ltd. and 1.9 billion yen ($18 million) against NTN Corp. for overcharging customers for its automotive bearings.
The levies are the latest in a continuing list of carmakers and suppliers found guilty of violating China's 6-year-old anti-monopoly laws. More announcements are expected this week.
In March antitrust European Union antitrust authorities fined NTN and NSK $268 million and $83 million, respectively, for fixing prices on bearings. NSK Also was fined $68 million by the U.S. Dept. of Justice for rigging prices.
RELATED CONTENT
-
China Targets 7 Million Annual NEV Sales by 2025
The Chinese government is targeting annual sales of electric and plug-in cars at 7 million units by 2025—nine times last year’s volume.
-
Toyota Targets 2021 Launch for V2V Tech in U.S.
Toyota Motor Corp. plans to expand its vehicle-to-vehicle communication technology to the U.S. by 2021 and offer it across most Toyota and Lexus models in the country by mid-decade.
-
Self-Driving Chevy Bolt Ticketed for Driving Too Close to Pedestrian
Police in San Francisco ticketed the backup driver in a self-driving Chevrolet Bolt for allowing the car to drive too close to a pedestrian in a crosswalk in San Francisco.