Reuters - Korean
carmakers Hyundai Motor Co and affiliate Kia Motors Corp will pay $41.2 million
to resolve a long running investigation by 33 U.S. states over the
automakers'
2012 mileage restatements, state attorney generals said Thursday.
In 2014, the
automakers were hit with $350 million in penalties by the U.S. government for
overstating fuel economy ratings. Under the accord, which involved the sale of
1.2 million cars and SUVs, the car firms paid a $100 million penalty, spent
around $50 million to prevent future violations and forfeited emissions credits
estimated to be worth more than $200 million. That settlement was on top of
$395 million the automakers agreed to pay in 2013 to resolve claims from the
owners of the vehicles.
Reuters
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