Shares of Hyundai Motor jump nearly 8%

July 16, 2020

Seoul, July 15 (BNA): Shares of Hyundai Motor 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 rising 4.1% and auto parts supplier Hyundai Mobis climbing 3.3%, according to Reuters.

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.