"Hyundai Mobis, Core Component Supplier in Physical AI Ecosystem... Growth in Both Revenue and Profit" [Click e Stock]

On August 26, IBK Investment & Securities assessed that Hyundai Mobis is emerging as a key component supplier within Hyundai Motor Group's physical artificial intelligence (AI) ecosystem by internalizing actuators, which are core components for humanoid robots. The target price was maintained at 760,000 won, and the investment opinion remained 'Buy'.

Lee Seunghoon, analyst at IBK Investment & Securities, stated in a report released that day, "The investment points for Hyundai Mobis are entering the core components business through internalization of the Atlas humanoid robot actuator, and expandability into grippers, battery systems, controllers, and perception modules."

Hyundai Mobis plans to supply actuator samples to customers in November. Considering the specifications of the Atlas robot, which is equipped with 31 actuators per unit, Hyundai Mobis's 2028 actuator production capacity target of 350,000 units is sufficient to manufacture about 11,000 humanoid robots.

The analyst explained, "Assuming an average selling price (ASP) per actuator of $1,000 and an exchange rate of 1,450 won per dollar, actuator sales in 2028 are expected to reach approximately 507.5 billion won. If Atlas unit sales increase to 30,000 units in 2030, sales could expand to about 1.2 trillion won." He further analyzed, "Applying a price-to-sales ratio (PSR) of 13 times, the theoretical value of the actuator business comes to 6.6 trillion won in 2028 and 15.8 trillion won in 2030."

This content was produced with the assistance of AI translation services.