Mexican Media Brands
Continental Unit Agrees to Plead Guilty to Price Fixing
The U.S. Dept. of Justice says Continental Automotive Electronics LLC and its Korean affiliate have agreed to plead guilty and pay a single $4 million criminal fine for rigging bids for instrument clusters they sold to Hyundai Motor Co. and Kia Motors Corp.
#electronics
Share
The U.S. Dept. of Justice says Continental Automotive Electronics LLC and its Korean affiliate have agreed to plead guilty and pay a single $4 million criminal fine for rigging bids for instrument clusters they sold to Hyundai Motor Co. and Kia Motors Corp.
The Conti units admit they met with co-conspirators to fix prices on the modules between at least 2004 and 2012.
The Justice Dept. settlement is the latest in an antitrust investigation that has now charged 32 companies and 46 executives of criminal wrongdoing. The probe has collected more than $2.4 billion in criminal fines and sent 26 executives to prison.
RELATED CONTENT
-
2018 Buick Regal GS AWD
For those who grew up driving sedans, or for those who would like an experience that is unlike what’s provided by things with a high H-point, the Buick Regal GS is an intriguing proposition.
-
2018 Genesis G80 AWD 3.3T Sport
The thing about the 2018 Genesis G80 AWD 3.3T Sport: The head of a valet service at a restaurant on New Year’s Eve said to me as his associate handed me back the key fob (a hefty object, speaking to the fact that this is a substantial vehicle), “We don’t see many of these.” A couple days later, a locksmith in downtown Plymouth, who was making some keys for autofieldblog HQ (yes, there are still independent locksmiths that make keys for doors) looked out his window and said to me, “What’s that?” Neither of these probably make the people at Genesis all that happy, but in both cases the tone of voice indicated admiration, if not full-on interest.
-
48-volt Hits Production
“In 2025, approximately one in five new vehicles across the world will be equipped with a 48-volt drive,” Juergen Wiesenberger, head of Hybrid Electric Vehicles at Continental North America said last week.