Shares of Hyundai Motor jump nearly 8% on Seoul’s ‘green new deal’ By Reuters

© Reuters. FILE PHOTO: The logo of Hyundai Motor is pictured at the second media day for the Shanghai auto show in Shanghai

SEOUL (Reuters) – Shares of Hyundai Motor (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 (KS:) rising 4.1% and auto parts supplier Hyundai Mobis (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.

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