The European Union (EU) has imposed fines totaling around 700 billion won on car manufacturers, including Hyundai and Kia, for collusion aimed at saving costs associated with the disposal of end-of-life vehicles (ELV) from 2002 to 2017. The European Automobile Manufacturers’ Association (ACEA) and manufacturers were found to have violated EU directives and engaged in anti-competitive contracts and practices related to vehicle recycling. Volkswagen received the highest fine, while Mercedes Benz had its fines completely waived for voluntarily reporting the collusion.
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Auto-posted at: 2025-04-02 21:03:16