Hyundai-Kia Motors lost Rs. 212 billion loss

Seoul, Ta. Monday, October 19, 2020

South Korean carmakers Hyundai and Kia are expected to spend 2. 2.9 billion (Rs 212 billion) in the next quarter. The two companies jointly manufacture cars. Some of the company's vehicles sold in the US had engine fire issues. He was then investigated in the United States.

The company had to recall 1.7 million cars from 2015 to 2017 to settle the case. This was the biggest occasion for the company to recall the car. Because of this the reputation of the company got in the dust. Hyundai-Kia together are the world's fifth largest car manufacturer. An investigation was launched in South Korea after an investigation was launched against him in the United States. In the United States, more than 350 lawsuits were filed against the company.

Under the circumstances, the company is ready to offer a lifetime warranty on the engine in both the United States and South Korea. Behind all this was the provision of huge sums of money, which will now have an impact on the company's quarterly results. The cars of these two companies are also sold in large numbers in India.