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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