Mexican Media Brands
EC Readies Fines Against Seatbelt, Airbag Suppliers
The European Commission is preparing to fine members of a group of airbag and seatbelt suppliers for conspiring to fix prices on their products.
#legal
Share
The European Commission is preparing to fine members of a group of airbag and seatbelt suppliers for conspiring to fix prices on their products.
Sources tell Reuters the move will cap a six-year investigation that began in 2011 and targeted European, Japanese and U.S. suppliers. The sources say the companies have admitted to wrongdoing in return for a 10% reduction in penalties.
The EC’s probe is part of a worldwide series of investigations of price fixing and bid rigging involving a wide variety of vehicle components. Prosecutors in Europe and the U.S. have so far levied fines worth more than €6 billion ($7 billion) against dozens of companies and indicted more than 50 executives.
RELATED CONTENT
-
Uber Settles with Family of Woman Killed in Self-Driving Car Crash
Uber Technologies Inc. has quickly settled on damages to the survivors of a woman killed in Tempe, Ariz., last week by an Uber test vehicle operating in autonomous mode.
-
Tesla Faces Second Autopilot Fatality Lawsuit
Tesla Inc. has been sued for the second time in three months by families of drivers killed in crashes while using the company’s Autopilot semi-self-driving feature.
-
Takata Opens $850 Million Fund to Pay Carmakers for Airbag Woes
Takata Corp. has launched an $850 million fund in the U.S. to repay carmakers for a portion of their costs to recall Takata airbag inflators that can explode when triggered by a crash.