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

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.

Reuters