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Toyota inks deal as global Olympic sponsor

Toyota has just scored a sponsorship with one of the biggest events on the planet – the Olympic Games. The company announced its position as a member of the TOP (The Olympic Partner) program, which takes effect in Japan next year and globally in 2017. The deal is slated to run through 2024. That means, if we're understanding the deal correctly, that we won't see as much official Toyota sponsorship at next year's Summer Olympics in Rio de Janeiro, while the company will enjoy a much more visible presence among American consumers at the 2018 Winter Olympics in Pyeongchang, South Korea. Unsurprisingly, the automotive giant's sponsorship will be in the mobility category, covering "vehicles, mobility services and mobile solutions," the company's press release said. Fuel cells are expected to play a big role. "We will do everything possible to fulfill our new role in The Olympic Partner program, and justify the trust the IOC has placed in us. The addition of a mobility category to the TOP Partner field is an important recognition for our entire industry," Toyota president Akio Toyoda said in a statement. "Under this Olympic flag, let us today reaffirm the power of sports to bring people together. And let us dedicate ourselves to creating a better world by promoting sports in the Olympic spirit of friendship, solidarity and fair play." "The IOC welcomes Toyota as a key partner for the provision of sustainable mobility solutions for the Olympic Games as outlined in Olympic Agenda 2020, our strategic roadmap for the future of the Olympic Movement," International Olympic Committee president Thomas Bach said. "Toyota is the world leader in its field, and this partnership signifies a strong commitment to the future of the IOC and the Olympic Movement. This is a milestone agreement in the implementation of Olympic Agenda 2020 because the focus of our cooperation is sustainable mobility, and Toyota will provide sustainable solutions for the entire Olympic Movement." Check out the official press release. Toyota Becomes IOC TOP Partner Tokyo, Japan, March 13, 2015-Toyota Motor Corporation (Toyota) today announced it has entered into a sponsorship agreement with the International Olympic Committee (IOC) to become part of The Olympic Partner (TOP) program. The agreement runs through to the end of 2024 in the mobility category, which includes vehicles, mobility services and mobility solutions.

Japanese spark plug giant NGK pleads guilty to price fixing, to pay $52M fine

The ongoing investigation by the Department of Justice into price fixing in the automotive industry has nabbed one more company breaking the law. Japanese parts giant NGK Spark Plug Company agreed to plead guilty to a felony count of pricing fixing and bid rigging in the in the US District Court in Detroit. Its punishment is a $52.1 million criminal fine and to continue to cooperate with the DOJ's sleuthing into the problem.
According to the DOJ, NGK conspired to fix prices on spark plugs, standard oxygen sensors, and air fuel ratio sensors on vehicles from major automakers in the US, including the former DaimlerChrysler, Honda and Toyota, in a scheme that ran from at least January 2000 to July 2011. The charge claimed that the company and its co-conspirators held meetings where they agreed on bids and price quotes that were submitted to the automakers.
With the latest plea, the DOJ has caught 28 companies and 26 executives for price-fixing and bid rigging in the auto parts industry, and they have collected $2.4 billion in criminal fines. In 2013, the feds brought nine Japanese suppliers down at once, to collect $740 million. Scroll down to read the DOJ's complete announcement of the case.

Jaguar E-Type with Supra's 2JZ debuts at SEMA looking fly and fast

We hope you’re not bored of seeing Toyota 2JZ engine-swapped cars, because this one sure does capture our attention. The 1969 Jaguar XKE 2+2 youÂ’re looking at here is unlike any E-Type youÂ’ve seen before, and while it still has a straight-six under the hood, pretty much everything else about the coupe has fundamentally changed. In a nod to just how beautiful the E-Type is to begin with, its design is only different in this Eneos build because it needs to be. Fender flares were designed and 3D-printed by Illumasthetic, and they were then strengthened with carbon fiber. Why did it need the flares? Well, thatÂ’s because the 2JZ-GTE 3.0-liter turbocharged inline-six from the Supra produces far more power than the E-Type ever did, requiring a lot more rubber to keep things straight. Of course, the Supra engine isnÂ’t stock, as itÂ’s been modified with Deatschwerks injectors, a Nuke Performance fuel system, CP-Carillo pistons and rods, a Borg Warner EFR 8474 turbo, Vibrant Performance intercooler Â… the list goes on forever. Output is estimated at about 750 horsepower. The Frankenstein theme continues with the E60 generation 535i rear subframe suspension and differential out back. Meanwhile, it uses the five-speed manual transmission from an E36 generation M3. The front suspension is custom, and while BMW brakes are used in the rear, Eneos chose brakes off a 2003 Chevy Corvette up front. The 17-inch Rotiform STL wheels are wrapped with Bridgestone Potenza RE-71 RS tires. Inside, this Jag-yota gets a full roll-cage, Tillett seats, an OMP steering wheel and a whole lot more. Eneos credits Faruk Kugay as the carÂ’s builder – Kugay previously built some rather creative cars, like a 997 Porsche 911 GT3 with a Subaru Impreza STI EJ25 engine and an E30 BMW 3 Series with a Honda S2000Â’s 2.0L engine. This Jaguar takes the wild engine swaps and engineering to totally new heights, though, and we canÂ’t help but simply love the way itÂ’s been executed. Related Video