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WELL Provider Solutions Rebrands as ‘WELLSTAR’, Completes Two Tuck-in Acquisitions and Raises Private Capital to Support Its Pre-Spinout Phase of Growth

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WELL has rebranded its subsidiary WELL Provider Solutions Group to WELLSTAR Technologies Corp., a high growth, profitable, pure-play Software-as-a-Service or ‘SaaS’ healthcare technology company. WELLSTAR provides over 37,000 healthcare providers across Canada with high quality technology and services that significantly improve patient care.WELLSTAR has privately closed on a $50.4 million equity placement entirely supported by Mawer Investment Management, Edgepoint Wealth Management, and PenderFund Capital Management, alongside WELL and WELLSTAR management, to fund its pre-spinout growth objectives. WELL did not issue any shares as part of this transaction. All equity issuances discussed in this release relate to its WELLSTAR subsidiary.Concurrently, WELLSTAR also announces that it closed the acquisition of two healthcare technology companies for closing payments of $17.9 million in cash and $3.9 million in WELLSTAR subordinate voting shares. WELLSTAR’s proforma revenue, including these two acquisitions, is expected to be over $70 million in 2025 with EBITDA margins1 of approximately 20%.This investment values WELLSTAR at a pre-financing enterprise value of approximately $285 million. WELL is aiming to execute a ‘spinout’ of WELLSTAR before the end of 2025, which is anticipated to provide investors with a unique, pure-play investment opportunity in healthcare technology SaaS.

VANCOUVER, BC, Dec. 12, 2024 /CNW/ – WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (the “Company” or “WELL”), a digital healthcare company focused on improving health outcomes by leveraging technology to empower healthcare providers and their patients globally, is pleased to announce the creation of WELLSTAR Technologies Corp. (“WELLSTAR”). WELLSTAR is a reorganization of WELL’s established WELL Provider Solutions Group (“WPS”), whose mission is to be the leading provider of healthcare technology solutions in Canada. WELLSTAR has been funded by way of a $50.4 million preferred share investment (the “Financing”) supported by three of Canada’s most prominent fund investors: Mawer Investment Management Ltd. (“Mawer”); Edgepoint Wealth Management Inc. (“Edgepoint”); and PenderFund Capital Management Ltd. (“PenderFund”).

Concurrent with the Financing, WELLSTAR closed two transactions to acquire complementary healthcare focused technology companies2 that are expected to add over $15 million in annualized revenue. These acquisitions are expected to bring WELLSTAR’s pro forma revenue to over $70 million for 2025, while maintaining strong gross margins of over 80% and EBITDA margins1 of approximately 20%. Furthermore, nearly 90% of WELLSTAR’s revenue is recurring SaaS revenue and will enable WELLSTAR to continue as a better-than ‘Rule of 40’ company.

WELL is aiming to execute a ‘spinout’ of WELLSTAR by the end of 2025. By separating WELLSTAR from WELL’s clinical operations, investors have the opportunity to directly invest in a high-growth healthcare technology company with a robust margin profile and strong expansion prospects.

“A pure-play SaaS and technology leader or ‘star’ is born. WELLSTAR is a high-performance company and disciplined capital allocator in healthcare SaaS,” said Hamed Shahbazi, Founder and CEO of WELL. “Today’s announcement and the incredible support we have received from some of Canada’s most esteemed technology investors demonstrates what we have been saying for some time now, which is that WELL’s technology platform is an exciting growth business which is set up to accelerate growth and drive higher margins for WELL on a consolidated basis. This strategic move reflects WELL’s commitment to unlocking shareholder value by surfacing the significant growth and market potential of its technology segment.”

About WELLSTAR

WELLSTAR (WELLSTAR.health) empowers healthcare providers with innovative technology and services to enhance patient care and operational efficiency. WELLSTAR offers a comprehensive suite of solutions tailored to meet the needs of healthcare providers, including: (i) Electronic Medical Records (EMR) software for primary care and specialist providers; (ii) Digital Health Apps including OceanMD and a suite of AI automation solutions, as well as the apps.health marketplace; and (iii) Medical billing and back-office solutions including revenue cycle management (RCM) and technology solutions. WELLSTAR’s comprehensive range of products and solutions are designed to streamline care delivery, integrate fragmented healthcare systems, reduce provider burnout, and improve patient healthcare experiences and outcomes. WELLSTAR serves over 37,000 healthcare providers across Canada, representing over one-third of all healthcare providers in the country who utilize at least one of WELLSTAR’s products, underscoring its extensive reach and trusted reputation in the industry. WELLSTAR stands out as a leader in Canada’s healthcare technology landscape as the third-largest provider of EMR solutions in the country and holds the country’s top position for e-referrals, digital health apps, and medical billing and RCM solutions.

WELLSTAR plans to continue to be active in M&A and has a deep pipeline of targets in the EMR, digital apps, billing, and clinical workflow technology solutions segments. WELLSTAR plans to deploy capital in an accretive manner while expanding the business and maintaining ‘Rule of 40’ metrics.

As the majority and controlling shareholder of WELLSTAR, WELL will continue to play a critical role in supporting WELLSTAR’s strategic initiatives. The operational relationship between WELL and WELLSTAR will remain unchanged, with the reorganization of WPS into WELLSTAR creating a more robust platform that will further enhance the capabilities and performance of WELL’s Canadian clinics network. This will enable WELL to better support its clinical operations while benefiting from the growth and market potential of WELLSTAR’s technology business.

Management and Governance of WELLSTAR

WELLSTAR will be led by Amir Javidan as CEO, a highly experienced technology operator who previously held executive roles at Avigilon and TIO Networks. Amir will be supported by Darren Hoegler as WELLSTAR’s Chief Financial Officer. Darren previously served in executive and senior level finance positions with MDA, Zymeworks, and Teekay. Darren joined WELL as of May 2022 and was appointed WELL’s SVP Finance and Chief Accounting Officer as of October 2023.

WELLSTAR’s management team will be supported by the WELLSTAR board of directors which includes Hamed Shahbazi, Chairman and CEO of WELL, who will also act as Chairman of WELLSTAR, alongside Amir Javidan and Ammar Shah, Vice President of Corporate Development and Strategy at WELL. Two additional board members are expected to be appointed in the near future, including an independent director selected by WELL and an independent director nominee selected by Mawer.

This leadership team brings a breadth of expertise and a shared vision to address the challenges and opportunities within the healthcare landscape.

Amir Javidan, CEO of WELLSTAR commented, “We are thrilled to embark on this next chapter as a purposeful and disciplined SaaS and services business which enables us to focus more intensely on transforming healthcare through innovative technology. With this transaction, we have a strong balance sheet and direct access to capital markets, enabling us to accelerate our acquisition growth strategy and deliver even greater value to healthcare providers and our shareholders. We are also very happy and proud to welcome over 80 new team members from the two healthcare software and technology tuck-ins. One company is a well-respected regional EMR and the other is a purely healthcare focused technology services company. Together, these two companies support over 1,500 healthcare clinics and physicians while maintaining high gross margins with subscription-like recurring revenues.”

Transaction Details

Pursuant to the Financing, WELLSTAR issued approximately $45 million of preferred shares to Mawer, EdgePoint, and Pender plus an additional $5.4 million of preferred shares to management of both WELLSTAR and WELL. WELL continues to maintain a significant majority of the economic and voting interest of WELLSTAR and expects this to be the case for the long term.

The preferred shares automatically convert into subordinate voting shares upon a qualifying IPO, RTO public listing, or alternative liquidity transaction. The preferred shares will not be entitled to dividends until 2026, after which they will accrue quarterly dividends at an increasing rate over time. These dividends will accrue as notional preferred shares until the occurrence of a liquidity event, redemption or other liquidation event in accordance with the terms of the preferred shares. The preferred shares will also be redeemable at the option of the holders at any time after December 31, 2026. WELL’s intention is for these preferred shares to experience a conversion event prior to the dividend payment period.

The use of proceeds from the Financing are to fund the acquisition of the two healthcare technology companies, and given that the businesses which have now been consolidated into WELLSTAR have been profitable for several years, additional proceeds from the Financing are anticipated to be dedicated towards future acquisitions and general corporate purposes.

The total consideration for the acquisition of the two healthcare technology companies is approximately $28 million, consisting of: (i) $17.9 million paid in cash from the proceeds of the Financing; (ii) $3.9 million paid in WELLSTAR subordinate voting shares; and (iii) $6.2 million paid in deferred consideration including anniversary payments and a multi-year earn-out. Collectively, the two acquisitions contributed approximately $15 million in annual revenues on a trailing 12-month basis with EBITDA margins1 of approximately 20%. Both companies were acquired at accretive purchase prices inclusive of earn-outs. One of the two tuck-ins is a control acquisition of 51% of a leading nationwide healthcare technology services company, while the other (a Canadian based regional EMR) is a full 100% acquisition. The Company has a call option to acquire the balance of the technology services company within 5 years post-closing for a defined purchase price.

As part of the Financing, WELLSTAR entered into various governance agreements with the Financing investors, including a shareholders agreement and a governance agreement, to grant standard investor rights to certain classes of shareholders until WELLSTAR ceases to be a private company.

WELL did not issue any shares as part of this transaction. All equity issuances discussed in this release relate to its WELLSTAR subsidiary.

Cormark Securities, Beacon Securities and Eight Capital acted as co-lead agents on behalf of a syndicate of agents with respect to the Financing, with Cormark Securities serving as the sole bookrunner.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.”

WELL HEALTH TECHNOLOGIES CORP. 

Per: “Hamed Shahbazi”
Hamed Shahbazi
Chief Executive Officer, Chair and Director  

About WELL Health Technologies Corp. 

WELL’s mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL’s comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL’s solutions enable more than 38,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with over 200 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL’s solutions are focused on specialized markets such as the gastrointestinal market, women’s health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol “WELL” and on the OTC Exchange under the symbol “WHTCF”. To learn more about WELL, please visit: www.well.company.   

Forward-Looking Statements  

This news release contains “Forward-Looking Information” within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the WELL’s and WELLSTAR’s goals, the intention to consummate a public listing by the end of 2025, the expectation of generating certain revenue, gross margins and EBITDA margins as set out herein, the expectation that WELLSTAR will continue as a ‘Rule of 40’+ company, the anticipation that WELLSTAR will continue to be a high-growth healthcare technology company with strong expansion prospects, the plan to continue to be active in M&A and its ability to consummate on these opportunities, the belief that the reorganization will enable WELL to better support its clinical operations, the expectation that WELL will maintain a significant majority in the economic and voting interest of WELLSTAR, and that the reorganization will accelerate growth and drive higher margins for WELL on a consolidated basis. Forward-Looking Information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “goal” or “continue”, or the negative thereof or similar variations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information is not a guarantee of future results or performance. WELL’s comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL’s control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including: that capital markets decline to a point whereby an exit strategy is not feasible on economically favorable terms; WELLSTAR is unable to fund future growth; WELLSTAR is unable to negotiate and consummate future M&A acquisitions on favorable terms; direct and indirect material adverse effects from adverse market conditions; risks inherent in the primary healthcare sector in general; regulatory and legislative changes; litigation risk; that future results may vary from historical results; an inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at www.sedarplus.ca, including its most recent Annual Information Form and its most recent Management, Discussion and Analysis. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.  

This news release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about WELLSTAR’s expected increase in revenue, EBITDA1, and EBITDA margin1 on a post-closing basis, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraphs. The actual financial results of WELLSTAR on a post-closing basis may vary from the amounts set out herein and such variation may be material. WELL and WELLSTAR and its respective management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, WELL undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL and WELLSTAR’s anticipated future business operations on a post-closing basis. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.

Footnotes:

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) and EBITDA margin (EBITDA divided by revenue) are each Non-GAAP measures. EBITDA and EBITDA margin should not be construed as alternatives to net income/loss determined in accordance with International Financial Reporting Standards (“IFRS”). EBITDA does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. The Company believes that EBITDA is a meaningful financial metric as it measures cash generated from operations which the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. For EBITDA reconciliation to Net income, please refer to the Company’s most recent Management Discussion and Analysis on sedarplus.ca. EBITDA margin is EBITDA as a percentage of total revenue.One of the two tuck-ins noted herein was a control acquisition of 51% and not a full acquisition. The company has a call option to acquire the balance of the company within 5 years.

 

SOURCE WELL Health Technologies Corp.

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Tencent Brings Together AI and Games to Help Preserve and Share Cultural Heritage of New UNESCO Site in Jingdezhen

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July 25, 2026

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Tencent applies AI and games to protect, reconstruct, and promote one of the world’s oldest porcelain traditions at newly inscribed UNESCO siteDigital initiatives create a new model for technology-driven heritage preservation globally using a multimodal AI dataset, AI-assisted artifact restoration, and interactive virtual experiences

SHENZHEN, China, July 25, 2026 /PRNewswire/ — Tencent (00700.HK) today announced the launch of Digital Jingdezhen: Porcelain Craft Adventure, an AI-powered cultural heritage game that enables users to explore Jingdezhen’s porcelain-making traditions and experience traditional craft techniques through interactive play. The launch coincides with the inscription of the Jingdezhen Handicraft Porcelain Industry Sites on the United Nations Educational, Scientific and Cultural Organization (UNESCO) World Heritage List.

Digital Jingdezhen is part of a broader cultural innovation initiative that applies Tencent’s AI and game technologies. Guided by Tencent’s vision of “Tech for Good”, the initiative leverages digital preservation to keep Jingdezhen’s thousand-year-old porcelain culture alive and relevant today, creating a living heritage with sustainable value and broad public engagement, and building a model that could be carried to heritage sites around the world.

Digital Preservation: Restoring and Unlocking Heritage with AI

Jingdezhen has a thousand years of living heritage; centuries of tradition are still active in its kilns today. To preserve this legacy, a cornerstone of the project was the Jingdezhen Porcelain Cultural Heritage Multimodal AI Dataset.

Over decades, historical records, heritage information, and craft specifications have accumulated into a massive volume of data. Tencent applied Optical Character Recognition (OCR), Natural Language Processing (NLP), and knowledge graph technologies to transform these dispersed materials into structured digital resources that can be analyzed, extracted, verified, and traced back to their original sources.

The dataset contains more than 30,000 documentary records, over 5,000 ceramic gene specimens, and data on nearly 1,000 representative ceramic artifacts in collections worldwide. It provides a digital foundation for cultural research, exhibition development, public interpretation and AI-powered heritage applications.

Building on this foundation, Tencent has developed a range of industry- and public-facing applications, including the Jingdezhen Ancient Ceramics Gene Database, the World Ceramics Interactive Map, and the Digital Jingdezhen AI Companion, providing researchers, heritage professionals, and the public with innovative AI-powered tools to explore and understand porcelain heritage.

Digital Activation: Bringing Jingdezhen’s Porcelain Heritage to Life Through AI and Games

To bring the public closer to Jingdezhen and its porcelain-making traditions, Digital Jingdezhen: Porcelain Craft Adventure utilizes AI-assisted Procedural Content Generation (PCG) to create the first large-scale digital recreation of the city’s five major porcelain heritage sites and historical production scenes. By rapidly mapping out town layouts and automatically generating architectural structures, decorative elements, and pedestrians, the technology brings Jingdezhen’s historic townscape back to life in the digital world.

The game also features high-quality AI digital humans built on large language models and the Jingdezhen Porcelain Cultural Heritage Multimodal AI Dataset. Through AI voice-driven facial expressions and Tencent Games’ proprietary animation technology, it creates warm, human-centered interactive experiences that make historical knowledge tangible and relatable. At the same time, AI-powered 3D generation allows users to quickly transform an uploaded image into a 3D porcelain form, lowering the barrier to participation and enabling anyone to turn creative inspiration into tangible ceramic forms in the digital space.

Continuing Heritage: Mobilizing the Community

Ensuring the longevity of Jingdezhen’s legacy requires active public participation. Tencent developed the Digital Heritage Guardian (Jingdezhen), a volunteer program built within the Weixin ecosystem. The program enables the public to support the upkeep and stewardship of physical heritage sites, creating a practical channel for community involvement in heritage protection.

“Our work in Jingdezhen is a testament to how ‘AI for Good’ can breathe new life into ancient traditions,” said Zhan Shu, Head of Digital Culture Lab, Tencent. “Working alongside dedicated heritage experts, we have contributed our capabilities in AI and digital technologies to unlock decades of dormant archives for this incredible new UNESCO site. We are proud to help bridge the gap between the thousand-year porcelain heritage and the digital era, creating new ways for the global public to connect with Jingdezhen’s living history, and a model for heritage sites worldwide.”

For media queries, please contact: gc@tencent.com

About Tencent

Tencent is a global technology and entertainment company focused on creating connections and experiences that matter. Founded in 1998, Tencent is driven by its mission to create “Value for Users” and apply “Tech for Good.”

Tencent’s communication and social services connect more than one billion people around the world, helping them to keep in touch with friends and family, access transportation, pay for daily necessities, and even be entertained. Tencent also develops and publishes some of the world’s most popular video games and other high-quality digital content, delivering rich and immersive interactive entertainment experiences. Tencent also offers a range of services such as cloud computing and other enterprise services to support our clients’ digital transformation and business growth. Headquartered in Shenzhen, Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since June 2004.

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SOURCE Tencent

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Hyundai Motor Group Executive Chair Euisun Chung Announces Physical AI Vision at San Francisco AI Summit

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July 25, 2026

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Hyundai Motor Group shares roadmap for realizing its Physical AI vision and collaboration strategy with global tech leaders at the San Francisco AI SummitExecutive Chair Euisun Chung presented, “Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing to become a Physical AI solution company,” adding, “The ultimate Physical AI vision we pursue is the realization of integrated intelligence at the city level”The Group to leverage manufacturing competitiveness and leading robotics capabilities centered on Boston Dynamics, while establishing a data flywheel system connecting real-world operational data with continuous AI model advancementThe Group to leverage strategic partnerships with global technology leaders, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMindThe Group to collaborate with NVIDIA to develop a Robot Reference Platform that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities

… The initiative to support Korea’s Physical AI industry through an open ecosystem

The Group to cultivate strategic domestic hubs through investments in Saemangeum AI Valley and future advanced industries in Korea’s Yeongnam region

SAN FRANCISCO, July 25, 2026 /PRNewswire/ — Hyundai Motor Group (the Group) Executive Chair Euisun Chung today outlined the Group’s vision and strategy for Physical AI at the San Francisco AI Summit held in San Francisco, California.

The event brought together approximately 150 attendees, including Executive Chair Chung, business leaders from major Korean companies, executives from leading U.S. technology firms, startup representatives and students.

At the summit, Executive Chair Chung presented the Group’s roadmap for advancing Physical AI and outlined strategic collaboration plans with global technology leaders.

“Hyundai Motor Group is evolving beyond the traditional boundaries of automotive manufacturing by expanding into autonomous driving, robotics and AI Defined Factories, accelerating our transformation into a Physical AI solution company.” — Hyundai Motor Group Executive Chair Euisun Chung

Accelerating the Transition to a Physical AI Solution Company

Hyundai Motor Group’s Physical AI vision extends beyond intelligent devices such as vehicles and robots to intelligent spaces, including AI factories where AI seamlessly connects and optimizes entire operations. Ultimately, the Group envisions integrated intelligence at the city level, where urban infrastructure is organically connected and operated through AI.

A key differentiator for the Group is its ability to create a data flywheel that continuously connects real-world operations with AI advancement. Drawing on extensive experience in large-scale manufacturing, mobility, robotics and service operations, the Group is positioned to deploy, refine and scale Physical AI technologies in real industrial environments.

Executive Chair Chung also outlined strategic partnerships with leading technology companies, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind, to further advance Physical AI capabilities.

By combining Hyundai Motor Group’s manufacturing competitiveness, mobility and robotics technologies and extensive operational data with the AI infrastructure and algorithm capabilities of global technology leaders, the Group aims to help foster a new innovation ecosystem for the Physical AI era.

Executive Chair Chung also introduced initiatives designed to support the growth of Korea’s robotics and AI ecosystem, including the development of a Robot Reference Platform with NVIDIA that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities, as well as investments in initiatives such as the Saemangeum AI Valley.

Physical AI Vision: From Intelligent Devices to Integrated Intelligence at the City Level

During the summit, Executive Chair Chung presented Hyundai Motor Group’s Physical AI vision.

“The ultimate Physical AI vision Hyundai Motor Group pursues begins with intelligent devices such as vehicles and robots, expands to intelligent spaces such as AI factories, and ultimately realizes integrated intelligence at the city level, where urban infrastructure is seamlessly connected and operated.” — Hyundai Motor Group Executive Chair Chung

The Group’s vision begins with intelligent devices, where AI capabilities enhance vehicles and robots. It then expands to intelligent spaces, including AI factories where AI autonomously integrates logistics, production and quality management across entire operations.

Ultimately, Hyundai Motor Group envisions city-level intelligence, where critical infrastructure and assets — including energy, mobility and robotics systems — are connected and optimized in real time.

Executive Chair Chung also highlighted the Group’s key strengths in realizing its Physical AI vision:

World-class manufacturing competitiveness: Hyundai Motor Group has built extensive expertise through decades of operating global manufacturing facilities, managing quality systems and optimizing supply chains. This foundation enables the Group to apply AI technologies to products, processes and services while rapidly validating and scaling innovations in real-world environments.Leading robotics capabilities: Hyundai Motor Group has established robotics as a key pillar of its future business portfolio. Boston Dynamics’ quadruped robot Spot®, logistics robot Stretch®, and Hyundai Motor Group Robotics LAB’s next-generation mobile robot platform MobED are recognized for combining technological competitiveness with real-world applicability.

In particular, the humanoid robot Atlas® is emerging as a representative example of Physical AI, supporting and collaborating with people across manufacturing, logistics and mobility environments.

Establishing a data flywheel system: Hyundai Motor Group is establishing a data flywheel system that leverages data generated across manufacturing operations, vehicles, logistics systems and robotics demonstrations to continuously advance AI models. Enhanced algorithms are then reapplied to real-world operations, creating a virtuous cycle that improves performance and strengthens Physical AI capabilities.

Accelerating the Future of Physical AI Through Partnerships with Global Tech Leaders

Executive Chair Chung also outlined concrete initiatives to position Hyundai Motor Group as a leader in human-centered Physical AI through strategic collaborations with NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind.

“By combining Hyundai Motor Group’s strengths in manufacturing, robotics and data with the capabilities of global technology leaders, we can help create a new innovation ecosystem for the Physical AI era.” — Hyundai Motor Group Executive Chair Euisun Chung

NVIDIA – Advancing Physical AI infrastructure and talent development

Hyundai Motor Group is expanding collaboration with NVIDIA to strengthen Physical AI infrastructure and cultivate AI talent. Building on a supply agreement for 50,000 NVIDIA Blackwell GPUs and a memorandum of understanding signed last year to advance Korea’s Physical AI capabilities, the Group is pursuing a range of initiatives, including the establishment of Hyundai Motor Group Robot Application Center, as well as various collaborations aimed at strengthening Korea’s Physical AI infrastructure and AI talent ecosystem, including the NVIDIA’s AI Technology Center.

In manufacturing, the Group is leveraging NVIDIA’s platform to create more sophisticated digital twins of production facilities, enhancing process design, operational optimization and validation efficiency. The collaboration also includes the integration of NVIDIA’s autonomous driving solutions, including automotive semiconductors, sensors and architecture, with Hyundai Motor Group vehicle platforms.

Waymo – Strengthening autonomous driving collaboration

Hyundai Motor Group continues to strengthen its strategic partnership with Waymo in the autonomous driving sector to support the development of a safe and innovative autonomous driving ecosystem. Autonomous driving vehicles require a wide range of specialized capabilities, including redundant systems for steering, braking, power and communications, dedicated features such as power-operated doors, as well as enhanced functional safety and cybersecurity technologies.

Hyundai Motor Group plans to produce IONIQ 5 vehicles with specific autonomous-ready modifications at Hyundai Motor Group Metaplant America (HMGMA) in Georgia.

Google DeepMind – Accelerating next-generation humanoid robotics

Boston Dynamics has established a strategic partnership with Google DeepMind to accelerate the development of next-generation humanoid robots. Advanced AI models and training systems are essential for robots to perform complex tasks in real-world environments and collaborate effectively with people. Through this partnership, Boston Dynamics robots are expected to achieve greater autonomy and adapt more effectively to complex operating environments.

Hyundai Motor Group plans to establish a robot production facility in the U.S. with an annual capacity of up to 30,000 units by 2028. The Atlas humanoid robot will first be deployed at production facilities including HMGMA before broader deployment is expanded through phased validation.

Building an Open Ecosystem Through the Robot Reference Platform and Continued Investment in Korea’s Physical AI Future

Executive Chair Chung also outlined initiatives aimed at supporting the growth of Korea’s Physical AI ecosystem through open collaboration and continued investment.

“The outcomes of collaboration with global technology leaders should contribute to the growth of Korea’s Physical AI industry. To that end, Hyundai Motor Group plans to foster an open ecosystem that supports innovation in robotics and AI technologies.” — Hyundai Motor Group Executive Chair Euisun Chung

Key initiatives to build an open ecosystem for robotics and AI innovation include:

Robot Reference Platform: Hyundai Motor Group and NVIDIA are collaborating to develop a Robot Reference Platform that combines Hyundai Motor Group’s and NVIDIA’s Physical AI capabilities.

The platform will provide research robot models to universities, research institutes and startups, helping foster an open ecosystem that supports technological innovation and the development of Physical AI talent while contributing to the broader growth of Korea’s robotics and AI industries. 

Supporting universities, research institutes and startups: The Robot Reference Platform is expected to provide universities, research institutes and startups with a standardized hardware and software environment, enabling them to more easily develop and validate Physical AI technologies. The initiative aims to help address challenges faced by organizations with innovative ideas but limited access to commercialization opportunities and validation infrastructure.

Hyundai Motor Group is also continuing large-scale investments aimed at driving the next leap forward in Korea’s industrial and technology ecosystem. Continued investments in Korea’s industrial and technology ecosystem include:

Saemangeum AI Valley: In the Saemangeum region of Jeonbuk State, the Group is developing Saemangeum AI Valley, which includes an approximate KRW 9 trillion investment in AI data centers, robotics manufacturing clusters, electrolyzer plants and AI hydrogen city infrastructure. 

In particular, the robotics manufacturing cluster will serve not only as a production base for the Group’s own robotics products, but also as a robotics foundry that provides manufacturing services for small and medium-sized enterprises that lack manufacturing expertise.

Advanced industrial hubs in the Yeongnam region: Hyundai Motor Group plans to invest a total of KRW 42 trillion over the next decade to foster advanced industrial hubs focused on AI-driven manufacturing, future aerospace industries and sustainable energy infrastructure.

Through these initiatives, Hyundai Motor Group aims to strengthen key foundations for the Physical AI era, including data and energy infrastructure, robotics production capabilities and real-world validation capabilities. The Group also expects these investments to contribute to enhanced industrial competitiveness, balanced regional development, job creation and broader economic vitality in Korea.

About Hyundai Motor Group

Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication, and the will to take on any challenges, we strive to create a better future for all.

More information about Hyundai Motor Group can be found at: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Newsroom, Genesis Newsroom

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SOURCE Hyundai Motor Company

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Reliance Digital Brings Samsung’s Latest Galaxy Z Fold8 Series and Galaxy Z Flip8 to Stores Across India

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July 25, 2026

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Be among the first to own the new Samsung Galaxy Z Fold8 series and Galaxy Z Flip8. Customers can now pre-order the latest Galaxy foldables at Reliance Digital, with EMIs starting at ₹6000/month.

MUMBAI, India, July 25, 2026 /PRNewswire/ — Reliance Digital, India’s leading consumer electronics retailer, today announced the availability of Samsung’s latest generation of foldable smartphones – the Galaxy Z Fold8 Ultra, Galaxy Z Fold8 and Galaxy Z Flip8. Designed to deliver the next evolution of Galaxy AI, powerful performance and iconic foldable innovation, Samsung’s newest line-up is now available across Reliance Digital stores and online.

Built around Samsung’s vision of making AI more intuitive and personal, the new Galaxy foldables combine immersive displays, premium craftsmanship and intelligent experiences that seamlessly adapt to the way users work, create and stay connected.

Leading the line-up is the Galaxy Z Fold8 Ultra, Samsung’s most premium foldable yet. Featuring an expansive 8-inch Dynamic AMOLED 2X main display, a flagship 200MP camera, the latest Snapdragon® 8 Elite Gen 5 for Galaxy processor and a 5,000mAh battery, the device is engineered for users who demand the ultimate in productivity, creativity and entertainment. It is available in Graphite, Cream and Violet Shadow,.

The Galaxy Z Fold8 brings Samsung’s signature foldable experience in a more compact form factor, featuring a 7.6-inch Dynamic AMOLED 2X main display, a redesigned wider cover screen, Galaxy AI-powered multitasking and flagship-grade performance. Customers can choose from Lavender, Graphite and Cream colour options.

Completing the line-up is the Galaxy Z Flip8, Samsung’s most stylish foldable smartphone, designed for users who want flagship performance in a compact, pocket-friendly form. Equipped with a vibrant 6.9-inch Dynamic AMOLED 2X display, an enhanced FlexWindow, a 50MP camera system and Galaxy AI experiences, the Flip8 effortlessly blends fashion with functionality.

Customers can visit their nearest Reliance Digital store to experience the new foldables first-hand with guidance from Reliance Digital’s Tech Dosts, compare models, explore exclusive launch offers and Pre-order the Galaxy device that best fits their lifestyle. The complete Galaxy Z Fold8 series and Galaxy Z Flip8 are also available through Reliance Digital’s online platform, ensuring customers can be among the first to own Samsung’s latest foldable innovations.

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