Toyoda Gosei Gets Final OK On $44.8M Auto Part MDL Deal

Law360 (September 30, 2020, 6:46 PM EDT) — Toyoda Gosei will be walking away from a suit accusing it of conspiring to fix the price of certain auto parts $44.8 million lighter after a Michigan federal judge gave a set of settlements his final blessing.

U.S. District Judge Sean F. Cox signed off on the six settlements for the last time Tuesday, more than two years after the deals first landed on his docket.

In doing so, the court effectively ended the claims laid against Toyoda Gosei by a proposed class of end payors accusing the Japan-based company and a slew of its subsidiaries of fixing prices on brake…

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A Joe Biden presidency could boost Tesla and the auto industry

By Paul R. La Monica | CNN Business

Joe Biden wants the US government to take an active role in increasing adoption of electric vehicles — far more than President Trump does. Biden reiterated that during Tuesday night’s presidential debate. That could be yet another bullish sign for Tesla and other electric car makers.

Biden supports America incentivizing companies to build a network of 500,000 electric vehicle charging stations across the country.

He says he wants America to be the global leader in EV manufacturing and plans to support that with a $400 billion public investment in automobile infrastructure, improving battery technology and changing the federal vehicle fleet to electric cars and trucks.

A Biden presidency could also lead to the return of full electric vehicle tax credits and other incentives for consumers to buy electric cars.

Tesla has already done quite well during the Trump presidency. The stock is

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COVID-19 Update: 153 new cases, one new death | Poll shows Canadians worried about contracting coronavirus



a man riding on the back of a truck: COVID-19 testing continued at the Richmond Road Diagnostic and Treatment Centre on Monday, September 28, 2020.


© Provided by Calgary Herald
COVID-19 testing continued at the Richmond Road Diagnostic and Treatment Centre on Monday, September 28, 2020.

With news on COVID-19 happening rapidly, we’ve created this page to bring you our latest stories and information on the outbreak in and around Calgary.

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Braid: The UCP’S anti-CERB member also rips into masks, Nenshi, Ivison and Trudeau



a man and a woman standing in a room:  In a video taken at a recent town hall in Parkland County, Getson said the Canada Emergency Response Benefit (CERB) was exacerbating drug use and addictions and that businesses were having trouble hiring because recipients “make more on CERB, eating Cheezies and watching cartoons.”


In a video taken at a recent town hall in Parkland County, Getson said the Canada Emergency Response Benefit (CERB) was exacerbating drug use and addictions and that businesses were having trouble hiring because recipients

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FCC moves forward on 3.45-3.55 GHz, asks for input on CBRS-like approaches

The FCC voted on Wednesday to move forward on opening up mid-band spectrum in the upper 3.1-3.55 GHz band for commercial services, including 5G.

In a unanimous decision, the commission adopted a Further Notice of Proposed Rulemaking that targets 100-megahertz in the 3.45-3.55 GHz portion for fixed and mobile wireless services. The White House and Department of Defense (DoD) in August agreed the 100-megahertz swath, which currently houses federal military users, could be used for commercial 5G deployments at full power levels desired by the industry. 

A related Report and Order proposed last December removes secondary non-federal operations from the 3.3-3.55 GHz portion to ready the band. That includes existing radiolocation licensees that will be relocated to the 2.9-3.0 GHz band and amateur radio operations that will individually decide what other available spectrum to use. Both can continue using the band while the 3.45 GHz rulemaking continues.

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India To Offer $4.6 Billion In Incentives To Local EV Battery Makers


The Indian government plans to offer $4.6 billion in incentives to companies that establish battery manufacturing facilities for electric vehicles in the country.

A proposal drafted by the Niti Aayog think tank that is chaired by Prime Minister Narendra Modi reveals that the country could slash import bills by as much as $40 billion by 2030 if electric vehicles are to become widely adopted.

Reuters adds that this think tank has recommended incentives of $4.6 billion by 2030 for companies manufacturing batteries in the country. This would start with cash and infrastructure incentives of $122 million in the first financial year that would be ratcheted up annually.

Read Also: Not A Single New Car Was Sold In India Last Month

The plan would see India retain its import tax rate of 5 per cent for certain types of batteries, including those for electric vehicles, until 2022. After that date, it

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FCC moves forward in freeing up more midband spectrum for 5G

5g-gettyimages-1171258528

Getty

The Federal Communications Commission took its first big step toward freeing up 100 megahertz of wireless spectrum currently being used for the military and making it available for 5G service. On Wednesday, the agency adopted rules and proposed additional changes to the 3.3-3.55GHZ band of spectrum that’ll pave the way toward an auction of the spectrum to commercial service providers. 

This swath of spectrum has been used by the federal military. In August, the White House and Department of Defense determined it could be shared with commercial providers for 5G service. They urged the FCC to begin drafting rules for an auction to take place in December 2021. 

5G is the next generation of wireless technology rolling out across the world, promising to deliver much faster wireless service and a more

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Three young drivers experience an ‘unforgettable’ day in a F1 car

Ferrari announced on Tuesday that Mick Schumacher and Callum Ilott will compete in Formula 1 in free practice for the Eifel Grand Prix next Friday. Schumacher will enter an Alfa Romeo and Ilott will enter a Hare. Robert Shwartzman will be in action later this year, along with a second session for Schumacher. To prepare them for the race, they went on the track today in an older Ferrari.

First meters in an F1 car

The three drivers mentioned came into action on Wednesday at the Ferrari Fiorano test track. They all entered the 2018 Ferrari SF71H. It went without a hitch, as the three of them quickly mastered the car, says Marco Matassa, the technical director of the Ferrari Driver Academy, on the Ferrari website. “It’s not easy to switch from the driving style demanded from a Formula 2 car to one best suited to Formula 1.”

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Germany puts auto boss on trial over ‘dieselgate’

Former Audi CEO Rupert Stadler yesterday became the first auto boss to go on trial in Germany over the “dieselgate” emissions scandal, five years after parent company Volkswagen admitted to the scam.
Stadler, 57, appeared before the Munich district court to answer charges of fraud, falsifying certifications and false advertising. He wore a face mask upon arrival as a precaution against the coronavirus.
With him in the dock are former Audi and Porsche manager Wolfgang Hatz and two Audi engineers, all facing the same charges.
German car giant VW — whose subsidiaries include Porsche, Audi, Skoda and Seat — admitted in September 2015 that it had installed software to rig emissions in 11mn diesel vehicles worldwide.
The so-called defeat devices made the vehicles appear less polluting in lab tests than they were on the road.
To date, just two VW employees have received jail terms over the cheating, both in

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Car industry at risk of tariffs even if Brexit deal agreed





© Provided by City AM


The UK car industry may be hit by tariffs even if a free trade deal is agreed with the EU, the BBC reported today, due to issues over the provenance of certain car parts.

Turkish and Japanese car parts used in cars made in this country will not be classed as British, meaning that some exports could face higher duties.

Read more: Car production plunges as surge in cases slams breaks on sector recovery

The problem was revealed in a letter to the car industry from the UK’s chief Brexit negotiator David Frost.

In the letter seen by the BBC, he said that the negotiators had thus far failed to get the bloc to agree to the car parts deal the UK wants and that he “obviously cannot insist on it”.

Under the terms of the deal, car parts made in EU countries and used

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Meritor, Inc. Announces Conversion Option for 7.875 Percent Convertible Senior Notes Due 2026

TROY, Mich., Sept. 30, 2020 /PRNewswire/ — Meritor, Inc. (NYSE: MTOR) today announced that it is notifying holders of its 7.875 percent Convertible Senior Notes, due 2026 (the “Notes”), that they are entitled to convert all or a portion of their Notes at any time beginning October 1, 2020 and prior to the close of business on December 31, 2020 at a rate of 83.3333 shares of common stock per $1,000 principal amount at maturity of the Notes (representing a conversion price of approximately $12.00 per share). The Notes are convertible because the closing price of shares of the company’s common stock for at least 20 trading days, during the 30 consecutive trading-day period ending on September 30, 2020, was greater than 120 percent of the conversion price in effect on September 30, 2020.

The Notes surrendered for conversion will be settled in cash, up to the principal

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