Hyundai Motor India refutes claims of Rs 7,300 crore fine over emission breach
Hyundai Motor India denied the media reports claiming that the company, along with other automobile manufacturers like Mahindra and Kia, could face a penalty of Rs 7,300 crore for breaching fleet emission levels.
Hyundai refuted the reports and said that they are based on «extrapolations» that are not grounded in facts. The company pointed out that the articles were based on an incorrect assumption—that the 2022 amendments to the Energy Conservation Act, 2001 (EC Act), which impose stricter penalty norms, were in effect before January 1, 2023.
According to HMIL, the new regulations only came into effect at the start of this year, and any claims of penalties prior to that are «fictional» and unsupported by the law.
«The article is based on extrapolations, which exercise itself is based on the incorrect premise that the 2022 amendments to the Energy Conservation Act, 2001 (“EC Act”), prescribing stricter penalty norms compared to the preceding law, were effective prior to 1st January 2023. Therefore, the story of penalty or the quantum of penalty is more fictional than based on facts or laws applicable to facts,» the statement read.
Hyundai further clarified that it has not received any formal or informal notice regarding any penalty related to its fleet emissions.
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