July 15, 2020 / 5:37 AM / 24 days ago

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

Hyundai Kona Electric is seen during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14, 2020. REUTERS/Jorge Silva

SEOUL (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.

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.

Reporting by Hyunjoo Jin; Editing by Clarence Fernandez

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