Hyundai Motor Revises Down Fourth-Quarter Operating Profit After Costly Kona EV Recall
South Korea's Hyundai Motor Co revised down its fourth-quarter operating profit by nearly a fifth after a costly $900 million recall to replace battery systems in some 82,000 electric vehicles globally.
Highlights
South Korea's Hyundai Motor Co revised down its fourth-quarter operating profit by nearly a fifth after a costly $900 million recall to replace battery systems in some 82,000 electric vehicles globally.
It said on Thursday that the quarter's profit came in at 1.3 trillion won ($1.2 billion), down from the 1.6 trillion won it had initially reported in late January.
The recall mostly concerns the Kona EV, Hyundai's biggest-selling electric car which was first recalled late last year for a software upgrade after a spate of fires.
Hyundai's Kona EV uses batteries manufactured by LG Chem Ltd's wholly owned battery division LG Energy Solution.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
# Hyundai# Hyundai Motor Co# Hyundai Q4 Profits# Hyundai EV Recall# Auto Industry# Electric Mobility# Cars
Stay updated with automotive news and reviews right at your fingertips through carandbike.com's WhatsApp Channel.
Great Deals on Used Cars
View All Used Cars8.4
2018 Maruti Suzuki Wagon R
- 55,000 km
- Petrol+CNG
- Manual
Rs. 4.85 Lakh
₹ 10,862/month
Car Choice Exclusif Amberhai, New Delhi
8.7
2022 Mahindra Thar
- 13,915 km
- Diesel
- Automatic
Rs. 17.75 Lakh
₹ 37,539/month
Car Choice Exclusif Amberhai, New Delhi
7.7
2019 Hyundai Creta
- 18,809 km
- Petrol
- Automatic
Rs. 11.95 Lakh
₹ 26,764/month
Car Choice Exclusif Amberhai, New Delhi
8.8
2022 Mahindra Thar
- 6,862 km
- Diesel
- Automatic
Rs. 17.25 Lakh
₹ 36,481/month
Car Choice Exclusif Amberhai, New Delhi
8.9
2022 Maruti Suzuki Grand Vitara
- 9,661 km
- Hybrid
- Automatic
Rs. 17.25 Lakh
₹ 38,634/month
Car Choice Exclusif Amberhai, New Delhi
8.4
2019 Maruti Suzuki Dzire
- 25,000 km
- Petrol
- Manual
Rs. 6.25 Lakh
₹ 13,214/month
Car Choice Exclusif Amberhai, New Delhi
8.6
2021 Mahindra Thar
- 7,000 km
- Petrol
- Automatic
Rs. 16 Lakh
₹ 33,844/month
Car Choice Exclusif Amberhai, New Delhi
9.0
2023 Mahindra Scorpio Classic
- 11,570 km
- Diesel
- Manual
Rs. 19.5 Lakh
₹ 43,673/month
Car Choice Exclusif Amberhai, New Delhi
8.5
2022 Mahindra XUV300
- 27,200 km
- Petrol
- Manual
Rs. 10.9 Lakh
₹ 23,056/month
Max Motors Yozna Vihar, New Delhi
8.7
2023 BMW X3
- 19,000 km
- Diesel
- Automatic
Rs. 64.5 Lakh
Car Choice Exclusif Amberhai, New Delhi
Popular Hyundai Models
Upcoming Cars
Upcoming Bikes
Trending Vehicles In India
- Home
- News
- Auto Industry
- Hyundai Motor Revises Down Fourth-Quarter Operating Profit After Costly Kona EV Recall