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

Credit: REUTERS/KIM HONG-JI

July 15, 2020 — 01:03 am EDT

Written by Hyunjoo Jin for Reuters ->

SEOUL, July 15 (Reuters) - 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. L3N2EL1DT

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 theglobal marketshare for such vehicles. S6N2DO00D

(Reporting by Hyunjoo Jin; Editing by Clarence Fernandez)

((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))

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