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DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.

Ford increasing Super Duty production by 15 percent

Ford has announced a hefty $80 million investment in its Kentucky Truck Plant, which is responsible for building the F-250, F-350, F-450 and F-550 versions of the Super Duty pickup. The influx of cash will add 350 jobs to the factory.
The investment is also good for a 15-percent increase in annual production thanks to retooling and other facility upgrades, which equates to an extra 55,000 units of production. Considering that Ford makes even more money off its Super Duty than it does on the hot-selling F-150, this could mean some serious coin to Ford's bottom line.
Hop below for the full press release from Ford on its latest investment.

Recharge Wrap-up: Tesla considers Model III SUV and wagon, Ford tears Tesla apart

Worries over Brazil's electric grid mean EVs are excluded from green car incentives. As part of a new efficiency program, non-plug-in hybrids will be eligible for a reduction in import duties, while EVs and plug-in hybrids will not. Brazil's government is concerned that the country's grid lacks the capacity to handle the increased load from an influx of EVs. Brazil plans to create a new incentive program - perhaps a more inclusive one - when the current one expires at the end of 2015. Read more at Green Car Reports. Tesla could make SUV and wagon derivatives of the upcoming Model III sedan. Tesla's VP of engineering, Chris Porritt, told Auto Express that to reach as many customers as possible, Tesla would consider all its options. "SUVs, estates - who knows?" says Porritt. He also says that while the company is currently focused on products with a broader appeal, another Roadster or other sports car aren't out of the question in the future. Read more at Auto Express. Ford admits to a Tesla Model S teardown. Ford CEO Mark Fields says that after disassembling, reassembling and driving the model S, his company is "very familiar with that product." He also says the Ford has the capability to build a similarly high-tech, long-range electric car. The questions still remains if Ford has plans for such a vehicle, but Fields says that it fits within Ford's "product philosophy." Read more at Business Insider and at USA Today.