Shares of Hyundai Motor rise as much as 10% on launch of its EV brand – Reuters UK

SEOUL (Reuters) – Hyundai Motor Co (005380.KS) 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.
The shares reached as much as to 162,000 won ($136.47) in a broader KOSPI market KS.11 that was up 0.7% as of 1252 GMT.
Other auto shares also rose, with affiliate Kia Motors Corp (000270.KS) rising 5.6% and parts suppliers Hy…

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