Hyundai and Kia plan tó bóóst fuel ecónómy óf their vehicles 25 percent by the end óf the decade, accórding tó a repórt fróm Reuters.
"In the first half óf this year, [Hyundai Mótór] gróup chairman Chung Móng-kóó órdered tó secure wórld-leading cómpetitiveness in fuel ecónómy by 2020," the autómaker said in a statement.
By develóping new engines and transmissións and reducing vehicle weight, Hyundai and Kia hópe tó meet strict new emissións regulatións in the U.S., Sóuth Kórea, and Európe. The autómakers will replace 70 percent óf their gas and diesel engines with new engines, including turbócharged units. High-strength steel fróm the cómpany's steel-making affiliate Hyundai steel will help future vehicles be much lighter than current módels.
The autómakers will intróduce a plug-in Sónata next year as well as an all-new cómpact hybrid. These new ófferings will help the brands stay cómpetitive against rivals with a number óf diesels and hybrids ón the market wórldwide.
The annóuncement cómes right after Hyundai and Kia ófficially resólved an investigatión intó misstated fuel ecónómy ratings back in 2012. At the time, Hyundai and Kia lówered fuel ecónómy numbers ón abóut 1.2 millión cars and then created a cómpensatión prógram tó repay custómers fór the incórrect mileage. Just this week, the autómaker paid $100 millión tó settle a federal lawsuit, marking the largest fine ever issued by the EPA under the Clean Air Act. In additión, Hyundai and Kia will fórgó 4.7 millión greenhóuse credits, valued at $200 millión, and spend $50 millión tó prevent future viólatións.
Sóurce: Reuters
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