(Jan 21): Hyundai Motor Co overtook General Motors Co as the world’s fourth-most valuable automaker as the South Korean firm’s robotics push fuelled a blistering stock rally.
Hyundai’s shares surged 15% Wednesday (Jan 21), hitting a fresh record and cementing its position as the best-performing stock in Asia this year with an 85% advance. That’s pushed its market capitalisation to about US$76.4 billion, topping GM’s US$72.6 billion.
The rally kickstarted early this month with the unveiling of its latest iteration of a humanoid robot, with market momentum building as analysts hiked their price targets and investors hunted for AI-related opportunities.
The Atlas robot is built by Hyundai’s Boston Dynamics unit and is set to start work in the carmaker’s plants in 2028. The auto firm’s partnerships with Nvidia Corp and Google DeepMind in robotics have further fuelled interest.
Hyundai Motor is the only company that can rival Tesla Inc in the physical AI market, according to KB Securities analyst Kang Seongjin, who more than doubled his price target to 800,000 won. Hyundai’s robotics business will offer a turning point in increasing productivity, he said.
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Hyundai Motor closed at 549,000 won. Affiliates including logistics arm Hyundai Glovis Co, parts supplier Hyundai Mobis Co and tech firm Hyundai Autoever Corp have risen alongside the automaker to all hit records this month.
Uploaded by Arion Yeow
