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Kayaba, Sumitomo to pay millions for price-fixing in US

Kayaba Industry Co, which does business in the US as suspension parts maker KYB, and Sumitomo Electric Industries are facing payments in the millions to settle price-fixing cases about the components that they make. As part of the Department of Justice's ongoing crackdown of price fixing in the auto industry, KYB agreed to pay $62 million and pleaded guilty to conspiracy to set the cost of shock absorbers from the mid '90s through 2012. The company allegedly worked with co-conspirators to keep the cost of the parts high, and those components then made it into vehicles from Honda, Kawasaki, Nissan, Subaru, Suzuki, and Toyota. "Any collusive agreement among competitors to restrict price competition undercuts our free enterprise system and violates the law," said Carter M. Stewart, US Attorney of the Southern District of Ohio, in the DoJ's announcement. Over the past few years, the DoJ has brought cases against 37 parts suppliers and 55 executives, leading to over $2.6 billion in fines. The investigations haven't always been so successful – some of the Japanese execs fled from the US to avoid prosecution. Critics allege that price fixing is simply how business is done. According to Automotive News, Sumitomo Electric Industries is also facing a $50 million settlement in a civil lawsuit that's related to price fixing of parts like wiring harnesses and heater control panels. The plaintiffs include owners and dealers that purchased vehicles with these parts. The company asserts that the violations are from before 2010, and it now has different process in place to avoid further violations. KYB Agrees to Plead Guilty and Pay $62 Million Criminal Fine for Fixing Price of Shock Absorbers Kayaba Industry Co. Ltd., dba KYB Corporation (KYB) has agreed to plead guilty and to pay a $62 million criminal fine for its role in a conspiracy to fix the price of shock absorbers installed in cars and motorcycles sold to U.S. consumers. According to charges filed today, KYB conspired from the mid-1990s until 2012 to fix the prices of shock absorbers sold to Fuji Heavy Industries Ltd. (manufacturer of Subaru vehicles), Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Nissan Motor Company Ltd., Suzuki Motor Corporation and Toyota Motor Company, including their subsidiaries in the United States.

'Kingsman' Subaru WRX isn't your typical rear-engined stunt car

The Subaru WRX has been a hot choice for movie cars as of late. The most popular is the rear-wheel-drive Subie from " Baby Driver," of which two stunt car examples have been sold off. But a lesser known appearance was in the movie "Kingsman: The Secret Service." Now the car used in that film is up for sale, and it's got a custom twist we've never really seen before. As the photos show, this is no ordinary WRX. Although the exterior looks like any other car, the secrets are held within. Open the trunk and there lies the engine. Look inside the cabin and there are not one, but two separate steering wheels: one in the normal right-hand-drive spot for a U.K. car, the other in the rear passenger-side seat. For those who have seen the movie (if you haven't, we recommend it), it should have clicked by now why the car has this setup. For those who haven't, there is a fairly simple explanation. In one of the scenes, the main character is seen escaping the police by driving the car backward through a narrow street at a high rate of speed. Rather than trying to accomplish this task by actually driving the car backward, the movie makers apparently cut off the body of the WRX, flipped it 180 degrees, and reattached it. So, the steering wheel that appears to be in the normal spot is actually an imposter added after the fact. The real driver's seat, steering wheel, six-speed gearbox and pedals are the ones seen in the rear seat facing the trunk. According to the seller, there are several other additions to the car, which is claimed to be an STI Spec D. The seller says the engine has several upgrades to the engine, as well as a welded-in roll cage. The car apparently does not start with the key but was bump started and ran okay. Though listed on eBay, this is not an auction. The seller has posted the car, which has 67,000 miles on it, for GBP5,950.00 (about $7,605). He also claims to have two other Subarus that were used in the movie. This would be a perfect car to charge for appearances at local events and parades. Just beware of the gremlins that are sure to pop up. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video: News Source: eBay Auto News Weird Car News Subaru Car Buying Used Car Buying Special and Limited Editions Performance Sedan eBay movie cars sti

Toyota will introduce several new battery EVs by 2025

Toyota has been a champion of hybrids and hydrogen fuel cell vehicles, but in the near future it will bet heavily on battery EVs as well. The most recent statement from the Japanese manufacturer details there are several new BEVs in the pipeline. Toyota has stated its intent for half of its global 2025 sales to consist of electrified vehicles. Plans include selling 4.5 million hybrids, which perform well in Toyota sales metrics already Í— Reuters says 80% of global hybrid vehicle sales are Toyotas. But 1 million vehicles will be EVs with either battery or hydrogen fuel cell power. From 2020 on, the carmaker will introduce at least 10 new BEVs, six of which will be based on the electrified version of its TNGA platform, dubbed e-TNGA, and sold globally. There will be a host of electric SUVs and crossovers in different sizes, along with a sedan and an MPV. Toyota says its EV plans must include a stable supply of batteries, as well as improved battery life and durability and proper reuse. It has found partners in China's CATL and electric carmaker BYD to help with battery availability. Earlier this week, Toyota announced that it is planning a jointly developed, all-wheel-drive battery electric crossover together with Subaru, and the resulting vehicle will probably be one of the six new models mentioned above. Subaru is also likely to benefit from the joint development deal, as it is a bit player in large parts of the world, and a partner like Toyota will come in handy when coming up with completely new vehicles.