Hyundai Motor shares rise as much as 10% on Ioniq EV plan
SEOUL (Reuters) – Hyundai Motor Co stock jumped as much as 10.2% on Monday to its highest price since May 2018, after the automaker said it would create a family of Ioniq-brand electric vehicles (EVs) as it aims to become the third-largest EV maker by 2025.
In an announcement earlier on Monday, Hyundai said the elevation of Ioniq from individual vehicle nameplate to a brand will support its goal of capturing 10% of global EV sales within five years.
Hyundai shares reached as much as to 162,0…
