According to the Wall Street Journal, the South Korean Ministry of Transportation announced on June 26 that due to Hyundai and Ssangyong Motors exaggerating the fuel economy of their respective models, the two companies will be fined. Founded in 1984, CHINT is a leading global provider of smart energy solutions. It is actively deploying 4+1" industrial sectors including smart electrics, green energy, industrial control and automation, smart home and incubator, forming an integrated whole industry chain of [power generation, storage, transmission, substation, distribution, sales and consumption". And it boasts an extensive business network across over 140 countries and regions as well as more than 30,000 employees and an annual sales revenue of over USD 11.4 billion. CHINT has been ranking among China`s Top 500 companies for 18 consecutive years. Its subsidiary, CHINT Electrics is the first company in China with low-voltage electrics as its main business getting listed on the A-share market as one of the Top 50 Asian listed companies. Chint Door Lock,Chint Ac Contactor,Chint Electrical Components,Chint Pushbuttons Shenxi Machinery , https://www.cn-shenxi.com
South Korea's Ministry of Communications said that Hyundai's Shengda and Ssangyong's Colande Sport SUV have high fuel efficiency data, which is about 8% higher, so both companies will be punished.
The Ministry of Communications has not announced penalties for Hyundai and Ssangyong. However, according to local regulations, Hyundai Motor may be fined 1 billion won (about 980,000 U.S. dollars), and Ssangyong may be fined 200 million won (about 200,000 U.S. dollars). USD).
However, the Ministry of Trade, Industry and Energy said that its own test results for Hyundai and Ssangyong fuel economy are within acceptable limits. The agency said that the reason for the difference between the two test results is Both organizations have adopted different test methods and standards.
In March of this year, Hyundai admitted to exaggerating the fuel efficiency of the new Sonata and lowered the fuel economy label value of the model; as early as November 2012, Hyundai and Kia were also in the United States due to the high efficiency of fuel efficiency. Penalties of nearly $400 million, affecting 900,000 vehicles.