1985 Nissan 300zx Convertible By Stahman on 2040-cars

Auto blog

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.

Hot Wheels' 2022 Green Speed cars bring EVs to small scale

With more and more EVs hitting the market, it was only a matter of time before the new breed of cars would find representation in diecast form. For 2022, Hot Wheels is coming out with a new Green Speed series that puts the spotlight on a diverse lineup of electric cars. The five-car series features a fun mix of EVs from different manufacturers and in a wide range of styles. Some are completely bone stock. For a traditional luxury sedan, there's a Lucid Air in silver, complete with glass (or in this case, clear plastic) canopy. For fans of Teutonic 4-door "coupes" there's the Audi RS e-Tron GT in Daytona Gray. Ticking the truck box is a Hummer EV in a yellow that can only be described as a throwback to the H3. But because this is Hot Wheels, there are "hot-rodded" variants in the lineup as well. Rather than just a regular Nissan Leaf, they've elected to cast the carbon fiber-bodied NISMO RC 2.0 race car. Likewise with Ford, instead of the standard Mustang Mach-E, they've gone with the Mustang Mach-E 1400 drift car. This isn't the first time Hot Wheels has put out a Green Speed series. The line debuted in 2016 but reflected the limited EV choices in the real car market at the time. The only non-fantasy cars in the series were a first-gen Tesla Roadster, a Tesla Model S, and Chevy Volt. Hot Wheels revisited the line again in 2019, this time adding a Tesla Model 3 and a Porsche Panamera Turbo S E-Hybrid Sport Turismo. Hot Wheels also makes other mini EVs that don't fall into this specific line of models. If you want to collect 'em all, there's the second-generation Tesla Roadster concept, Cybertruck, Jaguar I-Pace, Pininfarina Battista, Porsche Taycan, and a Volkswagen ID R. Similarly, Matchbox has released a version of the Tesla Roadster with sustainable packaging to boot. If you must have an old school gasoline burner, Hot Wheels has plenty of options for you too, like, say, this snazzy FJ60 Toyota Land Cruiser. The 2022 Hot Wheels Green Speed series should be on shelves at your local retailers now. Related Video:

Recharge Wrap-up: Nissan Leaf in Puerto Rico, BMW i3 REx tax-free in NJ, BC2BC cancelled [UPDATE]

*UPDATE: Nissan has released a video of the Leaf in Puerto Rico, so we've embedded it below. Envia Systems will develop battery technology for United States Advanced Battery Consortium (USABC), a subsidiary of the United States Council for Automotive Research (USCAR). The $7.7 million contract, co-funded by the US Department of Energy (DOE), involves a 36-month development program focusing on high-energy cathode and anode material for lithium-ion batteries and pouch cells for electric vehicles. The goal, of course, is to create better energy storage for less money in an effort to make commercial EVs more efficient and affordable. For the DOE, this also equates to energy security, energy independence and national security. Read more in the press release at the bottom of the page. The US and China have agreed to work together more closely on EVs, energy and climate issues. US Secretary of Energy Ernest Moniz went to Beijing for the sixth US-China Strategic and Economic Dialogue to meet with leaders. While there, Moniz and Wu Xinxiong of China's National Energy Administration (NEA) signed a memorandum of understanding allowing the DOE and NEA to share information regarding oil reserves. The groups will meet yearly to learn more about how each other manages petroleum stockpiles and policy. Moniz also met with Minister Miao Wei of the Chinese Ministry of Industry and Information Technology and signed an MOU to cooperate on electric vehicles and "related technologies," including the "inter-operability of electric vehicles." Read more at the Energy Department website. August's BC2BC all-electric vehicle rally, billed as the largest gathering of electric vehicles, has been cancelled. The event, which was to include a drive up the entire coast from Mexico to British Columbia with smaller events along the route, failed to bring in the needed sponsorship to hold the rally for its third year. A Facebook post from organizer Tony Williams also cited loss of venue and lack of support from automakers - "particularly Nissan and Tesla" - as hardships. The event was scheduled to take place August 9 through 17, with only battery electric vehicles invited to take part - no plug-in hybrids or range-extended vehicles. Williams said he'd only try a similar event in the future if sponsorship were provided up front. Read more at Green Car Reports. The Nissan Leaf will finally go on sale in Puerto Rico.