NEW DELHI: Korean auto major Hyundai Motor India Limited (HMIL) Monday inked a wage settlement pact with technicians at its Chennai facility raising average monthly salary by Rs 25,200 for a three-year period till March 31, 2021.

The agreement will come into retrospective effect from April 2018. As per the agreement, technicians will receive 55% of the increased salary in the first year, 25% in the second year and 20% in the third year.

Hyundai Motor Group companies’ shareholders rejected on Friday Elliott Management’s demands for a massive special dividend and board seats, dealing a blow to the U.S. hedge fund’s campaign to shake up South Korea’s second-biggest family-run conglomerate.

Although Hyundai fended off the threat from Elliott at the closely watched vote, it still faces a daunting challenge of winning shareholder support for a planned restructuring that should aid the handover of the group’s reins to heir apparent Euisun Chung.

India’s overall export-import (Exim) container trade increased 6% during the fourth quarter of 2018 on the back of spike in refrigerated cargo by China.

According to the Maersk India trade report for the quarter ended December 31, 2018, the imports grew 9% in the same quarter.

NEW DELHI: Hyundai Motor India Wednesday said its SUV Creta has crossed 5 lakh cumulatives sales milestone since its launch in July, 2015.

The company has sold 3.7 lakh units of the SUV in India and over 1.4 lakh units across international markets.

Maruti Suzuki and Hyundai India dominated the list of top 10 passenger vehicles sold in January, not leaving space for any other carmaker for the third consecutive month.

Data collated from the Society of Indian Automobile Manufacturer (SIAM) and independent research show that vehicles from Maruti Suzuki bagged seven positions, while Hyundai’s cars grabbed the remaining place in the monthly bestsellers chart.

Hyundai car owners rejoice. The South Korean carmaker has started a new initiative wherein it will carry out repair services at a location of customers’ choice. Periodic services, minor repairs, dry wash and car cleaning are some of the services covered under this initiative.

Customers can book and pay for the doorstep services online.

Hyundai Motor India Ltd (HMIL) has sought incentives and infrastructure from the government to support electric vehicles. The development comes at a time when the company announced that it will start manufacturing electric cars from second-half of next year at its facility near Chennai for the domestic market.

Hyundai Motor Co and affiliate Kia Motors Corp said on Wednesday they will recall about 168,000 US vehicles at risk of fuel leaks, after recalling them in 2017 for engine fire risks, and will offer software upgrades for 3.7 million vehicles.

A high-pressure fuel pipe may have been damaged or improperly installed as part of an engine replacement during the prior recall, and that installation could increase the risk of fire, the companies said.

A section of workers in Hyundai Motor’s Chennai plant held a one-day token hunger strike on Wednesday, as the wage settlement talks with the management were inconclusive.

The permanent workers, under the recognised union, had earlier decided to stay away from over time operations, and alleged the company was using the trainees to substitute skilled workers.

The heir apparent of Hyundai Motor Group said on Wednesday he will complete a restructuring in 2019 as he moves to formally take over from his father at the helm of South Korea's second-biggest conglomerate.

Euisun Chung made the comments in his first New Year address to employees in the absence of his 80-year-old father, the clearest sign that he is now in charge of the group as it plans its first leadership transition in about two decades.

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