Hyundai Motor, Kia Motors Aim To Raise Fuel Economy By 25% By 2020
SEOUL, Nov 6 – Hyundai Motor and its affiliate Kia Motors said on Thursday they aim to raise the average fuel economy of their vehicles by 25% by 2020 to meet emissions regulations in South Korea, the United States and Europe. The announcement came after the South Korean duo on Monday agreed to pay US$350 million (RM1.16 billion) in penalties to the US government for overstating fuel economy ratings.
At home, they have also struggled to fend off imported rivals which have surged in popularity thanks to their fuel-efficient, diesel-powered engines. In a statement, the South Korean automakers said they would develop next-generation engines and transmissions, reduce the weight of key models and expand their line-up of environmentally friendly vehicles to reach the target.
“In the first half of this year, group chairman Chung Mong-koo ordered to secure world-leading competitiveness in fuel economy by 2020,” Hyundai said in a statement. Hyundai and Kia, which share key components, said they will replace 70% of their 10 gasoline and diesel engines with next-generation engines, while expanding the use of turbo-charged gasoline engines.
They also will develop more advanced transmissions. The companies, which have steelmaking affiliate Hyundai Steel, said they will also expand use of advanced, high-strength steel to make vehicles lighter. Hyundai and Kia, which together rank fifth in global vehicle sales, plan to launch a compact, hybrid-dedicated vehicle and the plug-in hybrid version of the Sonata sedan next year as part of efforts to beef up its eco-friendly cars.
You may be interested
Azrin Zizal: Mukhriz’s Statement On Cambridge Analytica Contained Outright LiesPocket News - March 21, 2018
KUALA LUMPUR, Mar 21 - Azrin Zizal, former media officer to Datuk Seri Mukhriz Mahathir, has slammed the former's statement's yesterday…
HPP Seeks Next-Of-Kin Of Dead PatientPocket News - March 21, 2018
GEORGE TOWN, Mar 21 - The Penang Hospital (HPP) is seeking the next-of-kin of a man whose body has been not…
Najib: Malaysia’s GST Rate Smong The Lowest In The WorldPocket News - March 21, 2018
KOTA KINABALU, Mar 21 - Malaysia’s 6% Goods and Services Tax (GST) is among the lowest in the world, Prime Minister…