VENTURE CAPITAL POST

Michelin posted an increase of 19% in its earnings for the year 2015 helped by low raw material costs and its restructuring activities in Europe. The company also expects strong demand for its tires in 2016.

Honda said it recalled a total of 442,997 vehicles in Japan. The automaker will also recall 2.2 million cars in the US.

Ningbo Joyson has signed a definitive deal to acquire US-based airbag maker Key Safety Systems. KSS hope that the merger with Joyson will further accelerate its business and fasten its future growth.

China, as part of a wider drive into progressive industries to boost its GDP growth, plans to combine over 40 entities to work on the giant $22 billion plane-engine project. Under the plan, the government of China along with companies like Aviation Industry Corp. would invest 35 billion yuan.

The Hyundai Elantra 2017 has been priced starting at $17,985, which is near $100 lesser than its previous model. The Elantra 2017 has the most advanced packages including Android Auto and Apple CarPlay.

In an unprecedented sweep, several Japanese firms and their executives have been charged with conspiracy to undertake price fixing and agreed to settle amounts with the US Justice Department.