NH Investment & Securities said on the 17th that Hyundai AutoEver is expected to continue its growth as Hyundai Motor Group rolls out its Robotics business. It initiated coverage with an investment opinion of buy and a target price of 5.5 million won. The previous trading day's closing price of Hyundai AutoEver was 4.2 million won.
Researcher Ha Neul at NH Investment & Securities said, "As Hyundai Motor Group advances autonomous driving and Robotics, it is transforming from an infrastructure builder within the Hyundai group into a key player in the shift to physical artificial intelligence (AI)," and added, "With the buildout of a robot control system, we also expect Boston Dynamics to secure external corporate customers."
The robotics edge for Hyundai AutoEver that Ha highlighted is its robot systems integration (SI) capability. Boston Dynamics plans to produce 30,000 Humanoid Robots annually by 2030 and deploy them to the group's manufacturing plants, but the explanation is that SI-based optimization work is essential to use them in actual processes.
Ha said, "There is a large gap between the technological completeness of Humanoid Robots and their actual deployment and utilization in manufacturing plants," adding, "It is not enough to build and train robots well; after understanding the plant's operating system, a process to optimize the robots' placement, routes, and work speed is necessary."
The potential expansion of external corporate customers was also presented as a growth driver. Ha said, "The share of Robotics sales to external customers will gradually expand going forward," adding, "For external corporations to adopt humanoids, they need to build SI in-house or have an outside firm set it up, and as Boston Dynamics deploys 30,000 robots a year to factories and accumulates related references, reliance on Hyundai AutoEver could increase."