Hyundai Motor Group shares surge on hopes for EV boost in 2021

Hyundai Mobis

04/01/2021 02:09

** Shares of Hyundai Motor and its affiliates surge as
investors bet on electric vehicle (EV) boost this year
    ** Hyundai Motor Co  005380.KS  shares soar as high as 9.9%
to 211,000 won ($194.70) its highest in nearly 4 years, and its
auto parts affiliates Hyundai Mobis Co Ltd  012330.KS  and
Hyundai Wia Corp  011210.KS  jump as much as 20.7% and 29.9%,
respectively
    ** Last month, Hyundai Motor Group said it will introduce an
electric vehicle-only platform early in 2021 that will use its
own battery technology to cut production time and costs
 urn:newsml:reuters.com:*:nL1N2II0I6
    ** Outside home, Tesla Inc  TSLA.O  on Saturday reported
better-than-expected 2020 vehicle deliveries, driven by a steady
rise in electric vehicle adoption  urn:newsml:reuters.com:*:nL1N2JD07B
    ** Another affiliate Kia Motors Corp  000270.KS  rises 3.5%
    ** Broader KOSPI market  .KS11  was up 1.9% as of 0224 GMT
    
    ($1 = 1,083.7000 won)

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