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EU fines car component suppliers $155 million over cartels

EU fines car component suppliers $155 million over cartels

BRUSSELS (AP) — The European Union has fined six makers of car air conditioning and engine-cooling components a total $155 million for their involvement in supply cartels.

The EU's executive Commission said Wednesday that the suppliers — Germany's Behr, Japan's Calsonic, Denso, Panasonic, Sanden, and France's Valeo — all acknowledged their involvement in the cartels and agreed to a settlement.

The Commission said that there were four separate cartels involving the supply of components to various automakers. It found that the companies coordinated prices or markets and exchanged sensitive information at meetings or in "other collusive contacts in Europe and Japan," by email or phone.

Denso wasn't fined over three of the cartels because it reported them to authorities, and Panasonic wasn't fined over one of them for the same reason.

Updated : 2021-10-22 22:40 GMT+08:00