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 related to the disposal of end-of-life vehicles (ELV). The collusion, which violated EU directives and involved anti-competitive contracts and practices, occurred from 2002 to 2017. The companies involved admitted to the collusion, resulting in a 10% reduction in fines, while Mercedes Benz had its fine completely waived for voluntarily reporting the collusion.
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Auto-posted at: 2025-04-02 21:03:47