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Hyundai Fined $17.35 Million For Delayed Recall

Hyundai has agreed to pay a $17.35 million fine for delayed reporting of a brake defect affecting Genesis luxury cars, the National Highway Traffic Safety Administration said Thursday. The defect involves corrosion in critical brake system components that can reduce braking effectiveness and increase the risk of a crash, NHTSA said. Hyundai was aware in 2012 that brake fluids used in the model year 2009-2012 Genesis cars did not sufficiently inhibit corrosion in key components of the vehicle's brake system, the agency said. But rather than issue a recall, Hyundai instructed dealers to change the brake fluid in affected vehicles without explaining the consequences that failure to take that action might have, NHTSA said. Hyundai also did not inform Genesis owners of the potential safety consequences, the agency said. Hyundai recalled 27,500 of the cars in October 2012 just hours before the government opened an investigation. "Hyundai failed to act to protect their customers and others that were harmed in an accident, and must change the way they deal with all safety related defects," David Friedman, head of the safety administration, said in a statement. About 70 percent of the affected Genesis cars have been repaired so far, the safety administration said. Hyundai is committed to ensuring immediate action in response to potential safety concerns, including the prompt reporting of safety defects, said Jim Trainor, a senior group manager for Hyundai Motor America. "In order to mitigate a situation like this in the future, Hyundai is instituting new organizational and process improvements, and enhancing the ability of its U.S. leadership team to readily respond to regulatory reporting requirements," he said in an email. In May, the safety administration slapped General Motors with a record $35 million fine Friday for taking more than a decade to disclose an ignition-switch defect in millions of cars that has been linked to at least 13 deaths. Earlier this year, after a four-year criminal investigation, the Justice Department made Toyota pay $1.2 billion for concealing unintended acceleration problems from NHTSA. No individuals were charged with a crime. Related Gallery Safest Crossovers For The Budget-Conscious Family View 10 Photos Recalls Genesis Hyundai NHTSA brakes

HyFive hydrogen infrastructure gets $51M boost across Europe

"High five!" was one of the catch-phrases of Sacha Baron Cohen's Kazakh comedic alter ego Borat. A real-world HyFive is being announced by a power broker named Boris. And this is serious business. London Mayor Boris Johnson has announced a program called HyFive, which will see automakers and other entities invest 31 million British pounds ($51 million US) in a demonstration project for hydrogen fuel-cell vehicles. By next year, London will have three hydrogen refueling stations, while there will be one each in the Danish cities of Aarhus and Odense and one in Innsbruck, Austria. Leaders of the program are planning for other stations in Sweden, Germany and Italy. The five participating automakers are BMW, Mercedes-Benz parent Daimler, Honda, Hyundai and Toyota, while other companies involved include Copenhagen Hydrogen Network, ITM Power and Linde. Those OEMs will make 110 fuel-cell vehicles available for deployment in Bolzano, Copenhagen, Innsbruck, London, Munich and Stuttgart. The program represents an effort to address the "chicken or egg?" challenge inherent to establishing a hydrogen fuel cell vehicle market. While the powertrain technology provides benefits by combining fossil-fuel-like refueling times with long driving ranges and zero emissions, establishing a refueling network and building fuel-cell vehicles is prohibitively expensive, especially in low volumes. The London mayor is no stranger to green transportation technology. Late last year, Johnson made himself available for a photo opportunity with Ecotive and Frazer-Nash, which had developed a six-passenger extended-range plug-in taxicab. The mayor got a test drive in the cabs this week. You can check out the HyFive press release below. Global leaders sign up to GBP31m plan to demonstrate viability of hydrogen vehicles International project HyFive pioneers hydrogen fuel cell technology A pioneering GBP31 million deal will be struck today (3 April) to make hydrogen vehicles a viable and environmentally friendly choice for motorists across Europe. Leading motor manufacturers, hydrogen fuel suppliers, the Mayor of London's Office and energy consultancies from around the globe are signing up to the HyFive project, the largest of its kind in Europe, at City Hall in London today.

Hyundai, Kia looking to cut costs

Hyundai and Kia are off to roaring starts in the United States this year, underscored by Kia's best sales month ever in May. But globally the situation for the South Korean siblings hasn't been nearly so positive. Recently, they reported their fourth consecutive quarter of decreasing operating profits worldwide, and now they're "making efforts to cut costs," according to a statement in a joint email obtained by Bloomberg. However, the companies aren't detailing where they would make the cuts or how much they want to save. The amount could be significant, though. An unnamed Hyundai senior executive reportedly told a South Korean newspaper that the business might be aiming for up to 30 percent in reductions. According to Bloomberg, Hyundai and Kia are facing falling total sales worldwide. Making the situation worse is that the strong Korean won versus the weaker Japanese yen gives competitors an advantage. The automakers also angered investors enough last year to prompt a stock buyback after paying $10 billion for the land for a future headquarters. The prognosis doesn't look utterly dire, though, and new products are on the way. For example, the Hyundai Santa Fe is being refreshed in South Korea, and the next-gen Elantra debuts at this year's Los Angeles Auto Show. There's also the Creta on the way for foreign markets. Additionally, several models are still awaiting the green light, including a Hyundai Genesis-based luxury crossover, a compact CUV, and the Santa Cruz unibody pickup. Meanwhile, the Kia GT is reportedly close to production, too. Related Video: