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September 21, 2002 | Associated Press
AUTOMOBILES * DaimlerChrysler is paying more than $1.1 billion for stakes in commercial vehicle businesses being spun off by Japan's Mitsubishi Motors Corp. and South Korea's Hyundai Motor Co., a move intended to strengthen the German American auto maker's position in the growing Asian market. DaimlerChrysler said it will buy a 43% stake of the Mitsubishi spinoff, to be called Mitsubishi Fuso Truck and Bus Corp., for about $750 million.
March 27, 2006 | From Bloomberg News
Shares of Hyundai Motor Co. and two of its affiliates fell after state prosecutors launched an investigation into allegations that the companies used illegal funds to lobby the government. Prosecutors on Saturday raided the offices of Hyundai Motor, South Korea's largest automaker, and its Kia Motors Corp. and Glovis Co. units, Hyundai Motor spokesman Lee Ki-hoon said Sunday. He declined to elaborate. Hyundai Motor shares fell 2.7%, while Kia shares fell 3.2%.
March 20, 2007 | From Reuters
Hyundai Motor Co. of South Korea said Monday that it planned to launch a car aimed at the U.S. premium segment next year. Hyundai, which with affiliate Kia Motors Corp. is the world's No. 6 automaker by vehicles sold, is targeting the global luxury car market in a bid to upgrade its image and convince buyers that it can make more than just economical mass-market cars.
February 1, 1989 | From Associated Press
Hyundai Motor Co., South Korea's biggest auto maker, will sell 30,000 autos a year in the United States through Chrysler Corp. beginning in 1991, a Hyundai spokesman said today. Hyundai will sell, through Chrysler's Eagle Division, a four-door sedan with a 2,400-cubic centimeter engine that will be assembled at Hyundai's newly opened plant in Bromont, Quebec. Hyundai has not decided yet whether the model will be the Sonata, currently on sale in the United States, or a completely new model.
May 16, 2006 | From Reuters
South Korea will indict the chairman of Hyundai Motor Co. today in a cash-for-favors scandal, prosecutors said Monday. Chung Mong-koo, 68, chairman of the country's top automaker, was arrested in late April after a monthlong investigation of allegations that Hyundai Motor and its affiliates had created slush funds to offer cash for political favors using a lobbyist as a conduit.
May 27, 2002 | Associated Press
Economic developers from Alabama head for South Korea this week for two days of training sessions with Hyundai Motor Co. suppliers on doing business in the state. Officials expect that 90 representatives of more than 40 potential suppliers will attend the sessions, which begin Wednesday in Seoul. Hyundai, which will build its first U.S. plant near Montgomery, will hold a similar session in Alabama in July to give U.S. auto suppliers a chance to win contracts from the plant.
September 24, 1998 | Bloomberg News
Hyundai Motor Co., South Korea's largest auto maker, said it will offer one of the longest warranty packages in the industry to counter its reputation for poor quality and boost its U.S. sales. All 1999 Hyundai models will be covered by a five-year, 60,000-mile bumper-to-bumper limited warranty and a 10-year, 100,000-mile pledge on the powertrain. Hyundai, whose U.S. arm is based in Fountain Valley, extended its 24-hour roadside assistance program to five years from three. Hyundai's U.S.
April 20, 2006 | From Reuters
South Korea's biggest carmaker, Hyundai Motor Co., apologized on Wednesday for a deepening bribery scandal and said its chairman's family would donate $1 billion in shares of an affiliate to charity. Prosecutors are investigating whether Hyundai operated slush funds and offered cash for political favors via a lobbyist.
April 3, 2013 | By Ronald D. White
When Hyundai Motor Co. and its affiliate, Kia Motors Corp., announced Wednesday that they were conducting a massive recall of 1.7 million vehicles, it was a sign of what can go wrong when parts are shared by many vehicle models. Since the recession, according to automotive industry analysts, more and more manufacturers have turned to the economies of scale involved in having fewer vehicle platforms and more interchangeable parts and components. "This is supposed to be the ideal for making cars now," said Jesse Toprak, analyst for
The National Highway Traffic Safety Administration said Thursday it has begun an inquiry into the air bag-related deaths of seven children riding in Hyundai Motor Co.'s 1995-97 Accent economy cars. The agency has been concerned that air bags deploy and inflate with such force that the impact can injure or even kill a small child or adult.
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