Monday, November 3, 2014
South Korean automakers Hyundai and Kia have agreed to penalties totaling an estimated $350 million for inflating fuel economy claims on 1.2 million vehicles, the Environmental Protection Agency said Monday.
The penalty — the largest in Clean Air Act history — stemmed from an investigation by the EPA and the Department of Justice. In a settlement, the automakers agreed to pay a $100-million fine, forfeit environmental credits estimated to be worth $200 million and spend another $50 million on reforms to prevent future violations.