Auto makers Hyundai Motor (HYMLF) and Kia Motors (KIMTF) said today that they plan on recalling roughly 1.5 million vehicles in the U.S. and South Korea over engine issues, Reuters reports. 

The recall could cost the two firms hundreds of millions of dollar each.

The two automakers have presented a plan to recall 1.3 million vehicles due to an engine defect that could cause cars to stall, the companies said in a statement.

The plan, which must be approved by U.S. authorities, concerns Hyundai's Sonata and Santa Fe, and Kia's Optima, Sorento and Sportage.

Both also said they were recalling 171,348 vehicles in South Korea due to a similar manufacturing problem.

(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)

More from Stocks

Price Action Demands Caution, but Watch the Bull Narrative

Price Action Demands Caution, but Watch the Bull Narrative

Cisco, Macy's, Boeing, Tilray and Snap - 5 Things You Must Know

Cisco, Macy's, Boeing, Tilray and Snap - 5 Things You Must Know

OPEC Exists Only as a Namesake

OPEC Exists Only as a Namesake

Economist Perspective: Why 2019 Will Be Different?

Economist Perspective: Why 2019 Will Be Different?

GE Gains on Plans to Reduce Stake in Baker Hughes

GE Gains on Plans to Reduce Stake in Baker Hughes