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Summary
- South Korean car manufacturing giant Hyundai inked a new agreement with oil and gas major Royal Dutch Shell 2026 for providing clean mobility solutions
- The new deal is the fourth extension of the collaboration and the first time it is focusing on carbon footprint reduction
South Korean car manufacturing giant Hyundai (KRX: 005380) inked a new agreement with oil and gas major Royal Dutch Shell Plc (LON: RDSA) expanding its pre-existing partnership by five years, until 2026 for providing clean mobility solutions.
The partnership between the two companies started in 2005, with the new deal on 18 March being the fourth extension of the collaboration and the first time it is focusing on carbon footprint reduction and clean energy solutions.
Hyundai’s (KRX: 005380) shares were trading at KRW 2,34,000, up by 0.86 per cent as of 18 March at 3:30 pm GMT+9 following the news.
Meanwhile, Royal Dutch Shell Plc’s (LON:RDSA) shares were trading at GBX 1,518.80, down by 0.33 per cent as of 18 March at 8:48 am GMT+1. The FTSE 100 index, which it is a part of, stood at 6,759.41, down by 0.05 per cent for the same period.
Also Read: Hyundai, Kia Deny EV Collaboration Reports with Apple
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Here we take a look at 2 other FTSE automobile sector stocks with a 1-year return of over 80 per cent:
- Aston Martin Lagonda Global Holdings PLC (LON: AML)
UK-based car manufacturer Aston Martin Lagonda Global Holdings PLC (LON:AML) on 9 March announced it plans to launch an all-electric sports car and SUV vehicles in the UK in 2025.
Later on 12 March, the company also said it would not use the Lagonda brand name on its all-electric flagship sedan.
The company’s (LON:AML) shares were trading at GBX 2,039.00, up by 1.65 per cent, while the benchmark FTSE 250 index, which it is a part of, stood at 21,599.36, up by 0.19 per cent as of 18 March at 10:07 AM GMT+1. The company’s market cap was at £ 2 .357 billion, while its one year return was at 88.26 per cent.
Also Read: How Aston Martin’s EV Push Can Boost Its Stock Performance
- Ab Dynamics PLC (LON:ABDP)
UK-based automotive simulation and testing systems provider Ab Dynamics PLC (LON:ABDP) announced the acquisition of Vadotech Group, an automotive testing supplier in the Asia Pacific, in a cash deal worth up to EUR26.0 million, on 4 March. The move is part of the company’s strategy to widen the scope of the firm’s offerings.
The company’s (LON:ABDP) shares were trading at GBX 2,040.00, down by 1.92 per cent as of 18 March at 10:19 AM GMT+1, while the benchmark FTSE AIM 100 index, which it is a part of, stood at 5,904.95, down by 0.15 per cent. The company’s market cap was at £ 470.467 million, while its one year return was at 82.46 per cent.
Also Read: AB Dynamics Plc’s operating profit surge by 34% in HY2020
