Lear Corp News Today

On May 28, 2024, MALLETT CONRAD L JR, Director at Lear Corp (NYSE:LEA), executed a sale of 1,278 shares of the company.

WASHINGTON — BMW, Jaguar Land Rover and Volkswagen have bought parts made by a Chinese company sanctioned under a 2021 law for using forced labor, a Senate inquiry found, prompting lawmakers to call for stricter enforcement. The automakers responded to the Senate report, released Monday, by saying they have taken

BMW Imported Vehicles: The company will be conducting a service action to replace the specific parts, adding it "has strict standards and policies regarding employment practices, human rights, and working conditions, which all our direct suppliers must follow."

The US Senate Finance Committee has found in an inquiry that BMW, Jaguar Land Rover, and Volkswagen used parts from sanctioned Chinese supplier JWD in their cars

A congressional investigation found that BMW, Jaguar Land Rover and Volkswagen purchased parts that originated from a Chinese supplier flagged by the United States for participating in forced labor programs in Xinjiang, a far western region of China where the local population is subject to mass surveillance and detentions.

The automakers failed to discover that one of their tier-3 suppliers is a sanctioned Chinese company.

The automakers said they have taken action to bring their cars into compliance with the law.

US investigation found automakers continued sourcing parts made by supplier even after they were told about banned products

The automakers continued using the banned parts despite being notified through their supplier, the investigation found.

BMW allegedly imported more than 8,000 vehicles into the U.S. containing electronic parts from a banned Chinese supplier, according to a Senate report.