Hyundai Motor-LG Energy Solution Reach Agreement on Kona EV Recall Costs

[Asia Economy Reporter Changhwan Lee] Hyundai Motor Company and LG Energy Solution have recently reached a broad agreement on the recall costs for the Kona recall that was recently decided.

Hyundai Motor announced that it will recall a total of 81,701 units worldwide, including the Kona EV, Ioniq EV, and Elec City buses produced from November 2017 to March 2020.

The two companies have been negotiating the distribution of recall costs, estimated at around 1 trillion KRW, and it is reported that they have recently reached an agreement.