Hyundai Shares Soar 15% In Seoul As It Announces Dedicated Electric Vehicle Brand – Benzinga
Hyundai Motor Co (OTC: HYMTF) announced the launch of a brand dedicated to battery electric vehicles on Sunday.
What Happened: The automaker plans to sell one million units of battery-electric vehicles by 2025, occupying 10% of the global market share, in an effort to emerge as a leader in the segment under its dedicated EV brand “Ioniq.”
Three electric vehicles under the Ioniq brand will be released beginning early 2021, according to Hyundai. Launch of a midsize crossover vehicle in early 202…