Hyundai Motor Group pours billions into US robotics venture

Hyundai Motor Group’s Meta Plant America Courtesy of Hyundai Motor Group — Hyundai Motor Group’s Meta Plant America/ Courtesy of Hyundai Motor Group

SEOUL, August 22 (AJP) - Hyundai Motor Group has injected nearly 6 trillion won, or about $4.3 billion, into HMG Global, an intermediate holding company in the United States that oversees the group’s robotics and new business ventures, including Boston Dynamics.

The consistent capital infusions reflect Hyundai’s aggressive push into robotics and future technologies, even as the U.S. subsidiary continues to operate at a loss.

According to Hyundai Motor’s latest semiannual report, the company made its most recent investment on Aug. 8, injecting 218.9 billion won into HMG Global through a paid-in capital increase.

Established in Delaware as a limited liability company in 2022, HMG Global acts as the main shareholder of Boston Dynamics and is tasked with scouting new technologies and startups for the group.

The entity is wholly owned by the Hyundai Motor Group, with Hyundai Motor holding a 49.5 percent stake, Kia 30.5 percent, and Hyundai Mobis 20 percent.

Despite the sizable funding, HMG Global has yet to turn a profit. It reported comprehensive losses of 338.7 billion won in 2023, 163 billion won in 2024, and 344.1 billion won in the first half of 2025.

The company’s revenues for the same periods were 84.4 billion won, 116.1 billion won, and 66.8 billion won, respectively.

A key driver behind Hyundai's financial commitment is its strategic focus on robotics.

The group acquired Boston Dynamics in 2021 and has since funneled significant funding into the company through HMG Global. In addition to the holding company, Hyundai Motor Group also established the Boston Dynamics AI Institute in 2022, with a total investment of 566.7 billion won from Hyundai Motor, Kia, and Hyundai Mobis.

Lim Jaeho ajupresswogh@ajupress.com