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    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

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India proposes mandatory side, curtain airbags in all cars from Oct

01/15/2022 | 04:54am EDT
Cars are seen parked at Maruti Suzuki's plant at Manesar

NEW DELHI (Reuters) - India, which has among the world's deadliest roads, on Saturday proposed mandating at least six air bags in all passenger cars manufactured from Oct. 1.

The government wants automakers to provide two side air bags and two curtain air bags, to protect those seated in the rear seats, in addition to the already required two air bags for all vehicles.

The side air bags are to "help mitigate primarily torso injury" during a side crash, while the curtain air bags would "deploy in a side impact crash or roll over to help mitigate primarily head injury", the ministry of road transport said in a notification.

The draft rules are designed to bring down the fatalities on Indian roads. In 2020, nearly 132,000 people died in more than 366,000 road accidents, according to government data.

The additional air bags would increase the cost of vehicles in India's price-sensitive market, where most cars sell for less $10,000. The low-cost car market is dominated by Maruti Suzuki, majority owned by Japan's Suzuki Motor, and Hyundai Motor.

The government is inviting comments from companies and the public over the next 30 days, after which the draft rules will be finalised.

(Reporting by Aditi Shah; Editing by William Mallard)

By Aditi Shah


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI CORPORATION 2.78% 18500 End-of-day quote.10.12%
HYUNDAI MOTOR COMPANY 0.82% 185500 End-of-day quote.-11.24%
MARUTI SUZUKI INDIA LTD 1.77% 7942.95 Delayed Quote.6.95%
SUZUKI MOTOR CORPORATION 1.28% 3718 Delayed Quote.-16.05%
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Financials
Sales 2022 129 611 B 104 B 104 B
Net income 2022 6 562 B 5,25 B 5,25 B
Net Debt 2022 81 081 B 64,8 B 64,8 B
P/E ratio 2022 7,11x
Yield 2022 2,71%
Capitalization 38 912 B 31 114 M 31 114 M
EV / Sales 2022 0,93x
EV / Sales 2023 0,87x
Nbr of Employees 70 388
Free-Float 69,7%
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Mean consensus BUY
Number of Analysts 26
Last Close Price 185 500,00 KRW
Average target price 261 153,85 KRW
Spread / Average Target 40,8%
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Managers and Directors
Eui-Sun Chung Vice Chairman & Co-Chief Executive Officer
Chang Jae-hoon Executive Vice President
Albert Biermann Co-President & Director
Eon-Tae Ha Co-President & Director
Moon-Sik Kwon Vice Chairman-Executive Board, Head-R&D
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