Mitsubishi Motors to brief on misconduct in fuel economy tests

[TOKYO] Japan's Mitsubishi Motors Corp said it would address issues of misconduct in fuel economy tests at a news conference later on Wednesday. "One of our models was found to have failed part of a fuel economy test," a spokesman for the automaker said.

President Tetsuro Aikawa will attend the news conference, due to start at 5.00 pm (0800 GMT), the company said.

Shares in the Japanese automaker fell more than 15 per cent in their biggest one-day drop in almost 12 years.

South Korean car makers Hyundai Motor Co and affiliate Kia Motors Corp in 2014 agreed to pay US$350 million in penalties to the US government for overstating their vehicles' fuel economy ratings. They also resolved claims from car owners.

REUTERS