Shares of Hyundai Motor jump nearly 8per cent on Seoul's 'green new deal'

Shares of Hyundai Motor jump nearly 8per cent on Seoul's 'green new deal'

Shares of Hyundai Motor jumped nearly 8per cent on Wednesday, a day after South Korea announced a "green new deal" to spur use of environmentally friendly vehicles.

FILE PHOTO: The logo of Hyundai Motor is pictured at the second media day for the Shanghai auto sho
FILE PHOTO: The logo of Hyundai Motor is pictured at the second media day for the Shanghai auto show in Shanghai, China April 17, 2019. REUTERS/Aly Song/File Photo

SEOUL: Shares of Hyundai Motor jumped nearly 8per cent on Wednesday, a day after South Korea announced a "green new deal" to spur use of environmentally friendly vehicles.

Other auto shares gained ground, with affiliate Kia Motors rising 4.1per cent and auto parts supplier Hyundai Mobis climbing 3.3per cent.

Hyundai Motor Group leader Euisun Chung has said Hyundai Motor and Kia Motors aim to sell 1 million battery-driven electric vehicles in 2025, together targeting more than 10per cent of the global market share for such vehicles.

(Reporting by Hyunjoo Jin; Editing by Clarence Fernandez)

Source: Reuters

Bookmark