Hyundai Motor stock surges as much as 10% on Ioniq EV brand plan

SEOUL – 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 162,000 won ($136…

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