U.S. prosecutors investigate Hyundai, Kia vehicle recalls: source [Reuters]
Toyota Motor Corporation (TM)
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Source: Reuters
U.S. prosecutors investigate Hyundai, Kia vehicle recalls: source | Reuters 4 Min Read SEOUL/WASHINGTON (Reuters) - U.S. prosecutors are investigating if Hyundai Motor ( 005380.KS ) and affiliate Kia Motors’ ( 000270.KS ) vehicle recalls over engine defects were conducted properly, according to a person with knowledge of the matter and documents reviewed by Reuters. The South Korean firms, together the world’s No.5 automaker, recalled nearly 1.7 million vehicles in 2015 and 2017 in the United States in one of their biggest recalls in the country, citing an engine failure that increases the risk of a crash. The U.S. Attorney’s Office for the Southern District of New York (SDNY), part of the U.S. Department of Justice (DoJ), has launched a criminal investigation, the person told Reuters. It remains to be seen whether the probe will lead to charges, the person added. If criminal charges are filed, it could lead to hefty fines for Hyundai and Kia. The DoJ is coordinating with the U.S.
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