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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.

Honda installs 3-minute, fast-fuelling hydrogen fuel station in California

OK, but let's see how well Honda can control hydrogen refueling temperature in Houston or Buffalo. That's what some pessimists may be saying now that the Japanese automaker has installed a fast-fueling hydrogen station in the oh-so-temperate environs of Torrance, CA. That city is about 20 miles southwest of downtown Los Angeles and a sliver of it actually touches the Pacific Ocean, so we're not talking about wild swings in air temperature here. Honda is calling its fast-refueling platform the MC Fill (we'd expect a lawsuit if it was McFill, even though that'd be clever) and says that filling up takes about 45 percent less time than the typical hydrogen-refueling station. That's because the system monitors the ambient temperature in order to speed up the process. There's more scientific stuff in there - for example, the fact that the MC name comes from the "two key values in a heat transfer equation- 'M' for mass and 'C' for specific heat" - but the long and the short of it is that a hydrogen fuel-cell vehicle can fill up in less than three minutes. That's pretty impressive, despite the distinct lack of vehicles needing to charge that fast today. Honda unveiled its FCEV Concept vehicle at the Los Angeles Auto Show last November. The five-seat vehicle has a range of more than 300 miles, while its fuel-stack power density is about 60 percent higher than its previous version. The production version is due to arrive in the US in 2015. Check out Honda's press release below. Honda R&D Installs Advanced Fast-Fill Hydrogen Refueling Station -- New station on Honda R&D Americas' Torrance, California campus built in anticipation of Honda's next-generation fuel cell electric vehicle, due in 2015 -- Honda-developed hydrogen refueling protocol significantly reduces fill time TORRANCE, Calif., March 3, 2014 /PRNewswire/ -- Preparing for the 2015 introduction of the next Honda fuel cell-electric vehicle (FCEV), Honda R&D Americas has installed a state-of-the-art hydrogen refueling station on its Torrance, California campus. This advanced station will serve as a platform for demonstrating and validating the enhanced hydrogen fueling protocol developed by Honda, named the MC Fill. With the aim of standardizing this new protocol, Honda will make the new research station available to other automakers to further validate the MC Fill protocol's performance and functionality.

Weekly Recap: Ferrari looks to reclaim old success with new manager

Clearly, Ferrari doesn't race for fourth place, and this week, major changes continued at the Scuderia. It was a rough year for Ferrari, and the Scuderia conducted its season-ending tests in Abu Dhabi this week with a view toward a fresh start in 2015 with new leaders and a new ace driver. Though plenty of other Formula One teams were disappointed with their finishes in 2014, Ferrari was perhaps the most eager to put this season in its rear-view mirror. The Scuderia finished a distant fourth in the Constructors standings with 216 points, well behind No. 1 Mercedes (701 points), and Ferrari failed to win a single race as the Silver Arrows dominated the grid. It was an especially bitter pill for a team that claims 16 Constructors championships and 15 Drivers titles – the most in history – and is the only surviving team from F1's first season, 1950. Clearly, Ferrari doesn't race for fourth place, and this week, major changes continued at the Scuderia. Ferrari named Philip Morris executive Maurizio Arrivabene as team principal. He replaced Marco Mattiacci, who held the job for only seven months after taking over for Stefano Domenicali, who resigned in April amid the Scuderia's early-season struggles. Phillip Morris (through its Marlboro brand) is a key Ferrari sponsor, and that played a role in Arrivabene's ascension. Still, he's no stranger to F1, and has been intimately involved in the Ferrari-Marlboro partnership. He also has served as the sponsors' representative on the FIA's F1 Commission since 2010. In a statement, new Ferrari chairman Sergio Marchionne said: "We decided to appoint Maurizio Arrivabene because, at this historic moment in time for the Scuderia and for Formula One, we need a person with a thorough understanding not just of Ferrari, but also of the governance mechanisms and requirements of the sport." Arrivabene's background is primarily in marketing and communication, and most recently he held the title of vice president of consumer channel strategy and event marketing for Philip Morris. He has been with the company since 1997. Arrivabene now leads a team that's rife with change. Marchionne took over in October when longtime boss Luca di Montezemolo quit in a disagreement about Ferrari's future, and the company itself will be spun off from parent Fiat Chrysler Automobiles in 2015.