Hyundai nears 100 tril.-won market cap on optimism over robotics, self-driving projects
SEOUL — The market capitalization of Hyundai Motor Co. was seen approaching the 100 trillion-won (US$67.7 billion) level for the first time Tuesday, as growing investor optimism over its robotics and autonomous driving initiatives drove the company’s share price toward record highs.
The share price of Hyundai Motor rose as high as 496,500 won in early trading, briefly lifting the company’s market capitalization to more than 101.66 trillion won. The gains were reduced in afternoon trading, with the market cap hovering at around 98.8 trillion won as of 2:50 p.m.
Industry watchers said expectations surrounding Hyundai Motor’s robotics strategy have been a key driver behind the company’s recent price surge. Boston Dynamics, the group’s U.S.-based robotics affiliate, recently unveiled its next-generation humanoid robot, Atlas, and laid out its artificial intelligence (AI) robotics road map.
Hyundai Motor’s autonomous driving strategy has also been cited as a key factor.
Motional, a U.S. joint venture of Hyundai Motor, plans to commercialize a fully driverless Level 4 robotaxi service in Las Vegas by the end of 2026.
Market watchers noted that investors have begun to recognize the commercialization potential of humanoid robotics for Hyundai Motor.
“As preparations for commercialization accelerate, momentum (for Hyundai) is expected to extend through 2028,” Hanwha Investment & Securities said in a recent report.
