1. Hyundai, Kia Earmark $760M To Settle Lawsuits Over Engine Fires

    Hyundai, Kia Earmark $760M To Settle Lawsuits Over Engine Fires

    Hyundai Motor Co. and affiliate Kia Motors Corp. have earmarked $758 million to settle U.S. class action litigation and address engine-related issues in the US and South Korea.

    The move marks the South Korean auto giant’s first major effort to resolve years of trouble over engine fires that have also sparked probes by the U.S. safety regulator and prosecutors.

    Hyundai and Kia said in a statement that under the U.S. settlement they would install software to monitor for symptoms of engine failure and take other steps, including offering compensation options and lifetime warranties.

    A total of 4.17 million Hyundai and Kia models equipped with Theta II gasoline direct injection (GDI) engines will be affected by ...

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