Hyundai Motor Group shares surge on robust Jan sales, reports of likely Kia-Apple deal

Hyundai Glovis

03/02/2021 01:29

** Shares of South Korea's largest carmaker Hyundai Motor Co
 005380.KS  and its affiliates surge after reporting robust
January global sales and on reports of possible $3.6 bln deal
between Kia Corp  000270.KS  and Apple Inc  AAPL.O 
    ** Hyundai Motor shares jump as much as 5% to a one-week
high after its U.S. unit reports 2% YoY increase in sales in
January; global sales up 1.6% y/y  urn:newsml:reuters.com:*:nFWN2K714P urn:newsml:reuters.com:*:nS6N2J901S
    ** Affiliate Kia surges as much as 14.5% after its U.S. unit
reports 11.4% jump y/y in sales in January; global sales up 2.5%
y/y  urn:newsml:reuters.com:*:nFWN2K81EE urn:newsml:reuters.com:*:nS6N2J901T
    ** Meanwhile, local media reports Kia and Apple will likely
sign a deal worth 4 trillion won ($3.60 billion) in mid-February
for Apple car production
    ** Hyundai Motor Group declined to comment; Kia previously
said it is reviewing cooperation on self-driving electric cars
with multiple foreign firms, with no direct mention of Apple
 urn:newsml:reuters.com:*:nL1N2JV048
    ** Other affiliates including Hyundai Mobis  012330.KS  and
Hyundai Glovis  086280.KS  also gain as high as 9.1% and 13.2%,
respectively
    ** Broader KOSPI market  .KS11  was trading up 0.9%, while
the sub-index for transportation equipment jump 5.8% as of 0112
GMT
    
    ($1 = 1,112.5800 won)

 (Reporting by Joori Roh; Additional reporting by Heekyong Yang)
 ((joori.roh@thomsonreuters.com; +82 2 6936 1493;))