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
-
Ford and Autonomy
Ford’s announcement last week in Silicon Valley came as something of a surprise.
-
On Traffic Jams, Vehicle Size, Building EVs and more
From building electric vehicles—and training to do so—to considering traffic and its implication on drivers and vehicle size—there are plenty of considerations for people and their utilization of technology in the industry.
-
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.