Hydrogen-powered car parts companies surge on Hyundai Motor's $6.8 bln investment plan

Iljin Diamond

12/12/2018 01:27

** Shares of hydrogen-powered car parts companies gain as
Hyundai Motor Co  005380.KS  and its suppliers plan to invest
$6.8 billion in research and development and to expand
facilities related to fuel cell systems  urn:newsml:reuters.com:*:nL3N1YG247
    ** Hyundai Motor's auto parts affiliate Hyundai Mobis
 012330.KS  plans to increase production capacity of its fuel
cell systems mainly used in hydrogen-powered cars by 13 times
through 2022 - Hyundai Motor
    ** Iljin Diamond Co Ltd  081000.KS , parent company of
composite hydrogen tank producer Iljin Composites, soars 24.5
pct 
    ** Neuros Co Ltd  126870.KQ , which produces an air
compressor for hydrogen-powered cars, jumps 15.5 pct
    ** GMB Korea Corp  013870.KS , which supplies water pumps to
Hyundai Motor and Kia Motors  000270.KS , also jumps as much as
13.4 pct
    ** Hyundai Mobis and Hyundai Wia  011210.KS  rise 6.5 pct
and 10.6 pct, respectively
    ** Broader KOSPI market  .KS11  up 1.0 pct as of 0114 GMT

 ((Reuters Messaging: joori.roh.thomsonreuters.com@reuters.net))