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
-
Honda Re-Imagines and Re-Engineers the Ridgeline
When Honda announced the first-generation Ridgeline in 2005, it opened the press release describing the vehicle: “The Honda Ridgeline re-defines what a truck can be with its true half-ton bed payload capability, an interior similar to a full-size truck and the exterior length of a compact truck.” And all that said, people simply couldn’t get over the way there is a diagonal piece, a sail-shaped buttress, between the cab and the box.
-
Internal Combustion Engines’ Continued Domination (?)
According to a new research study by Deutsche Bank, “PCOT III: Revisiting the Outlook for Powertrain Technology” (that’s “Pricing the Car of Tomorrow”), to twist a phrase from Mark Twain, it seems that the reports of the internal combustion engine’s eminent death are greatly exaggerated.
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.