Hyundai Motor hits $67.7B market cap amid investor optimism
The market capitalization of Hyundai Motor Co. briefly surpassed 100 trillion won (US$67.7 billion) on Tuesday, driven by growing investor confidence in its robotics and autonomous driving initiatives, according to industry analysts.
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, News.Az reports, citing Yonhap.
The gains, however, were reversed in afternoon trading, with the company's share price closing 0.21 percent lower at 479,000 won, bringing its market capitalization to 98.9 trillion won.
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.
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