Hyundai, Mahindra, 6 others likely to face emission penalties of Rs 7,300 crore

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Hyundai, Mahindra, 6 others likely to face emission penalties of Rs 7,300 crore

//automotive-transportation.news-articles.net/co .. o-face-emission-penalties-of-rs-7-300-crore.html

Published in Automotive and Transportation on Thursday, November 28th 2024 at 0:21 GMT by Aaron Neefham
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The penalty on Korean carmaker Hyundai is the highest, totalling over Rs 2,800 crore, followed by Mahindra (nearly Rs 1,800 crore) and Kia (over Rs 1,300 crore).

The article from The Indian Express discusses how eight major automotive companies, including Hyundai, Mahindra & Mahindra, and others, are likely to face penalties totaling around Rs 7,300 crore for failing to meet the Corporate Average Fuel Efficiency (CAFE) norms set by the Indian government for the fiscal year 2023. These norms, which aim to reduce vehicle emissions, require manufacturers to ensure their fleet's average fuel efficiency does not exceed a specified limit. The penalties are calculated based on the excess CO2 emissions over the mandated limit, with the fines escalating if the excess is more than 0.2 liters per 100 km. The article highlights that while some companies like Maruti Suzuki and Tata Motors have managed to comply, others have not, leading to significant financial repercussions. This situation underscores the challenges manufacturers face in transitioning to more fuel-efficient and environmentally friendly technologies amidst regulatory pressures.

Read the Full The Indian Express Article at [ https://indianexpress.com/article/business/hyundai-mm-6-others-likely-to-face-emission-penalties-of-rs-7300-crore-9694105/ ]