On March 19, Beijing time, the European Union’s anti-monopoly regulator announced on the 18th that it has imposed fines of nearly 1 billion euros (about 1.4 billion U.S. dollars) on two EU companies and four Japanese companies for allegedly manipulating key cars. And truck parts prices .
EU Antitrust Commissioner Joaquin Almunia said that this is by far the third case of market manipulation discovered by the European Union in the automotive industry. The EU is currently conducting another six antitrust investigations in the industry.
The European companies that were fined were the Schaeffler Group in Germany and SKF in Sweden. Both companies had fines of more than 300 million euros.
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