[Edaily Reporter kyoungeun kim ] HANWHA INVESTMENT & SECURITIES has maintained its “Buy” rating on HyundaiMobis(012330)while significantly raising its target price by 37.3%, from 590,000 won to 810,000 won. This reflects the updated valuation of the robotics business following progress in the commercialization of Boston Dynamics (BD) robots. The stock has upside potential of 58.8% relative to its current price.

Kim Seong-rae, an analyst at HANWHA INVESTMENT & SECURITIES, stated in a report on the 24th, “As the company enters the commercialization phase for robots, the ability to deliver products that meet user requirements for quality, cost, and delivery (QCD) is expected to emerge as a key competitive factor, shifting the focus from the implementation of physical AI-based technologies.” He emphasized, “This signifies the arrival of a time when HyundaiMobis’ capabilities—having mass-produced parts designed for the harsh conditions of vehicles at prices that meet customer demands—will come to the forefront.”
Less than a year after HyundaiMobis unveiled its robotics business plan during the announcement of its Chief Innovation Officer (CID) last August, plans for the commercialization of BD robots are rapidly taking shape. The company has begun optimizing actuator designs and preparing mass-production facilities for on-site deployment in 2028, and in May, it presented a plan to establish a mass-production line for 350,000 actuators in the United States.
Researcher Kim analyzed, “Given the demand for at least 25,000 humanoid robots within the group, the volume of robot actuators that HyundaiMobis is expected to supply is estimated to be at least 1 million units, taking safety stock into account.” Through large-scale mass production over the five-year period from 2028 to 2032, actuator sales alone are expected to total more than 2.7 trillion won. When expanded to include robot components such as hand units and after-sales service (A/S) revenue, total robot sales are projected to grow to 3.8 trillion won (an average of 756 billion won per year) over the same five-year period.
Researcher Kim added, “As the expiration date approaches for the buy-sell options among existing shareholders—which were part of the terms for BD’s initial public offering (IPO)—and given the increased likelihood of a rights offering, HyundaiMobis’ acquisition of additional BD shares is also expected to serve as a factor driving future stock price growth.”