Hyundai shares increased nearly eight percent after ‘green new deal’

Shares of Hyundai Motor increased by almost 8% on Wednesday, a day after South Korea announced a “green new deal” to spur the use of environmental friendly vehicles.

Other auto shares gained ground, with sister automaker Kia Motors increasing 4.1% and auto parts supplier Hyundai Mobis increasing 3.3%.

Recently, Hyundai Motor Group leader Euisun Chung has said Hyundai and Kia Motors aim to sell 1 million battery-driven electric vehicles in 2025, targeting over 10% of the global market share for such vehicles.