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Photo courtesy of Hyundai Motor Group |
[Alpha Biz= Ellie Kim] Shares of Hyundai Motor surged nearly 10% on May 13, breaking above KRW 700,000 for the first time, as investor optimism surrounding its robotics business continued to build.
On the benchmark KOSPI market, Hyundai Motor closed at KRW 710,000, up 9.91% from the previous session.
Affiliate stocks also rallied sharply, with Hyundai Mobis rising 18.43% and Hyundai AutoEver gaining 13.66%, both hitting new 52-week highs during intraday trading.
Investor sentiment has been buoyed by growing expectations for robotics, particularly after Boston Dynamics, a robotics subsidiary of Hyundai Motor Group, recently released a new video showcasing the capabilities of its humanoid robot “Atlas.”
The continued momentum in robotics has driven strong buying interest, further amplified by expectations that Boston Dynamics could pursue a listing on the NASDAQ.
Market observers suggest that a decision on a potential IPO could come as early as next month.
According to Kang Sung-jin, an analyst at KB Securities, Boston Dynamics could sell up to 1.5 million high-end humanoid robots annually by 2035, priced at around $190,000 each, achieving a global market share of 10%.
Despite the recent rally, the analyst noted that the combined market capitalization of Hyundai Motor Group’s three core companies—Hyundai Motor, Kia, and Hyundai Mobis—remains only about one-fourteenth of that of Tesla.
“This presents a highly attractive valuation,” he said, citing Hyundai Motor Group’s leading position in humanoid robot commercialization and its status as one of the few automakers developing autonomous driving technologies in-house.
Alphabiz Reporter Ellie Kim(press@alphabiz.co.kr)
https://www.alphabiz.co.kr/news/view/1065621990897815
This article is based on global economic content from Alphabiz, which distributes English-language news on Korean markets and companies to international audiences.
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