Shares of Hyundai Motor jump nearly 8% on Seoul's 'green new deal'
Global Economy
15 July, 2020, 11:50 am
Last modified: 15 July, 2020, 11:51 am
Other auto shares gained ground, with affiliate Kia Motors (000270.KS) rising 4.1% and auto parts supplier Hyundai Mobis (012330.KS) climbing 3.3%
A man walks past the logo of Hyundai Motor during the 2019 Seoul Motor Show in Goyang, South Korea, March 28, 2019. REUTERS/Kim Hong-Ji/File Photo
Shares of Hyundai Motor (005380.KS) jumped nearly 8% 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 (000270.KS) rising 4.1% and auto parts supplier Hyundai Mobis (012330.KS) climbing 3.3%.
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 10% of the global market share for such vehicles.
Comments
While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.