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In the news release, Siyata Mobile Announces Second Quarter Financial Results, issued 15-Aug-2024 by Siyata Mobile Inc. over PR Newswire, we are advised by the company that the section Key financial highlights for the three months ended June 30, 2024:, first bullet point, should read “Revenues were $1.9 million compared to $2.7 million for the three months ended June 30, 2023.” rather than “Revenues were $1.6 million compared to $2.7 million for the three months ended June 30, 2023.” In addition the second bullet point of the same section should read “Gross profit of $0.2 million, or 10.4% of revenue, compared to $0.8 million, or 29.7% of revenue…” rather than “Gross profit of ($144,000), or -8.9% of revenue, compared to $804,000, or 29.7% of revenue…” as originally issued inadvertently. The complete, corrected release follows:

Siyata Mobile Announces Second Quarter Financial Results

Management to Host Conference Call at 8:30 a.m. ET on Friday, August 16

VANCOUVER, BC, Aug. 15, 2024 /CNW/ — Siyata Mobile Inc. (Nasdaq: SYTA) (“Siyata” or the “Company”), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced its financial results for the three months ended June 30, 2024.

Marc Seelenfreund, CEO of Siyata, said, “Second quarter revenue growth was tempered in large part due to the timing of the delivery of customer orders. However, we have a backlog of more than $7 million of confirmed orders, which gives us strong visibility into the second half of 2024. As such, we expect the third quarter will be a break-out quarter with high double digit year-over-year growth as the delivery of orders accelerates. We have achieved ‘stocked’ status for our SD7 handsets with four of the largest North American cellular carriers and continue to tap into new vertical markets reinforcing a growth trajectory that extends into 2025 and beyond.”

Key financial highlights for the three months ended June 30, 2024:

Revenues were $1.9 million compared to $2.7 million for the three months ended June 30, 2023.
Gross profit of $0.2 million, or 10.4% of revenue, compared to $0.8 million, or 29.7% of revenue, in the same period last year, primarily due to a one-time heavily discounted transaction to an international reseller which we believe will positively impact revenue in second half of 2024.
Net loss was $12.9 million as compared to a net loss of $2.3 million in the same period in the prior year, primarily due to a non cash recognition of the differences between fair value of capital raises compared to cash received resulting in a $6.7 million additional loss, as well as a $1.0 million loss due to transaction costs incurred for the financings and $2.0 million of marketing costs on investor awareness of our Company.
Adjusted EBITDA was ($3.8 million), versus ($2.0 million) in the prior year.

Liquidity and Capital Resources

As of June 30, 2024, the Company had a cash balance of $2.7 million compared to $0.9 million as of December 31, 2023.

During the second quarter, the company closed two public offerings of common shares and/or pre-funded warrants to purchase common shares for gross proceeds of approximately $10 million in aggregate.

Conference Call Details

The Company will host a conference call at 8:30 a.m. ET on Friday, August 16, 2024 to discuss its second quarter 2024 financial results.

Date: Friday, August 16, 2024
Time: 8:30 a.m. Eastern Time/5:30 a.m. Pacific Time
North America dial-in number: 888-506-0062
International toll-free dial-in number: 973-528-0011
Access Code: 922573

A replay will be available until August 30, 2024. To access the replay, dial +1 (877) 481-4010 or +1 (919) 882-2331. When prompted, enter Passcode 51033.

The call will also be available over the Internet and accessible at: https://www.webcaster4.com/Webcast/Page/2988/51033

About Siyata Mobile

Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.

In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.

Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.

Siyata’s common shares trade on the Nasdaq under the symbol “SYTA”.

Visit www.siyata.net and unidencellular.com to learn more.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata’s current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Siyata’s filings with the Securities and Exchange Commission (“SEC”), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release. 

— Tables Follow —

Siyata Mobile Inc.

Condensed Consolidated Statements of Financial Position

(Expressed in US dollars)

 
 
 

USD

 
 

USD

 
 
 

June 30,
2024

 
 

December 31,
2023

 

Assets

 
 
 
 
 
 

Current

 
 
 
 
 
 

Cash

 
 

2,653,226

 
 
 

898,771

 

Trade And Other Receivables

 
 

1,508,799

 
 
 

1,181,257

 

Prepaid Expenses

 
 

2,244,232

 
 
 

29,673

 

Inventory

 
 

2,299,647

 
 
 

3,544,519

 

Advance To Suppliers

 
 

891,144

 
 
 

1,048,227

 
 
 
 

9,597,048

 
 
 

6,702,447

 

Long Term Receivable

 
 

142,904

 
 
 

147,100

 

Investment in Securities

 
 

1,000,000

 
 
 

 

Right Of Use Assets

 
 

500,849

 
 
 

630,793

 

Equipment

 
 

157,022

 
 
 

175,335

 

Intangible Assets

 
 

7,785,176

 
 
 

7,856,730

 

Total Assets

 
 

19,182,999

 
 
 

15,512,405

 
 
 
 
 
 
 
 
 
 

Liabilities And Shareholders’ Equity

 
 
 
 
 
 
 
 

Current

 
 
 
 
 
 
 
 

Loans to Financial Institutions

 
 

619,068

 
 
 

89,298

 

Sale of future receipts

 
 

2,152,375

 
 
 

1,467,899

 

Accounts Payable and Accrued Liabilities

 
 

4,087,199

 
 
 

3,449,103

 

Deferred Revenue

 
 

3,182

 
 
 

2,025

 

Short Term Lease Liability

 
 

243,214

 
 
 

254,668

 

Warrant Liability and Preferred Shares

 
 

10,755,482

 
 
 

156,433

 
 
 
 

17,860,520

 
 
 

5,419,426

 

Long Term Lease Liability

 
 

284,393

 
 
 

385,639

 
 
 
 

284,393

 
 
 

385,639

 

Total Liabilities

 
 

18,144,913

 
 
 

5,805,065

 

Shareholders’ Equity

 
 
 
 
 
 
 
 

Share Capital

 
 

92,565,727

 
 
 

85,714,727

 

Reserves

 
 

14,845,086

 
 
 

14,644,200

 

Accumulated Other Comprehensive Loss

 
 

98,870

 
 
 

98,870

 

Deficit

 
 

(106,471,597)

 
 
 

(90,750,457)

 
 
 
 

1,038,086

 
 
 

9,707,340

 

Total Liabilities And Shareholders’ Equity

 
 

19,182,999

 
 
 

15,512,405

 

 

Siyata Mobile Inc.

Condensed Consolidated Statements of Loss and Comprehensive Loss

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

 
 
 

Three Months Ended

 
 

Six Months Ended

 
 
 

June 30,
2024

 
 

June 30,
2023

 
 

June 30,
2024

 
 

June 30,
2023

 
 
 
 
 
 
 
 
 
 
 
 
 
 

Revenue

 

$

1,890,968

 
 

$

2,710,717

 
 

$

4,248,847

 
 

$

4,513,354

 

Cost Of Sales

 
 

(1,694,154)

 
 
 

(1,906,227)

 
 
 

(3,188,616)

 
 
 

(3,212,347)

 

Gross Profit

 
 

196,814

 
 
 

804,490

 
 
 

1,060,231

 
 
 

1,301,007

 
 
 
 

10.4

%

 
 

29.7

%

 
 

25.0

%

 
 

28.8

%

Expenses

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Amortization And Depreciation

 
 

433,129

 
 
 

453,499

 
 
 

837,787

 
 
 

855,139

 

Development Expenses

 
 

 
 
 

31,465

 
 
 

35,000

 
 
 

85,450

 

Selling And Marketing

 
 

954,388

 
 
 

987,803

 
 
 

2,102,406

 
 
 

1,991,168

 

Equity promotion and marketing

 
 

2,000,000

 
 
 

250,000

 
 
 

2,150,000

 
 
 

591,200

 

General And Administrative

 
 

1,033,301

 
 
 

1,503,382

 
 
 

2,071,853

 
 
 

2,554,612

 

Bad Debts (Recovered)

 
 

 
 
 

10,148

 
 
 

18,858

 
 
 

10,148

 

Share-Based Payments

 
 

83,762

 
 
 

260,705

 
 
 

200,886

 
 
 

571,533

 

Total Operating Expenses

 
 

4,504,580

 
 
 

3,497,002

 
 
 

7,416,790

 
 
 

6,659,250

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Net Operating Loss

 
 

(4,307,766)

 
 
 

(2,692,512)

 
 
 

(6,356,559)

 
 
 

(5,358,243)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Other Expenses

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Finance Expense

 
 

942,283

 
 
 

41,251

 
 
 

1,722,039

 
 
 

75,349

 

Loss on issuance

 
 

6,129,282

 
 
 

 
 
 

6,129,282

 
 
 

 

Loss on extinguishment of financial liability

 
 

601,163

 
 
 

 
 
 

601,163

 
 
 

 

Foreign Exchange

 
 

(1,706)

 
 
 

(78,762)

 
 
 

(10,651)

 
 
 

(78,599)

 

Change In Fair Value of Warrant Liability

 
 

(31,986)

 
 
 

(321,384)

 
 
 

(54,570)

 
 
 

1,856,623

 

Transaction Costs

 
 

977,318

 
 
 

 
 
 

977,318

 
 
 

 

Total Other Expenses

 
 

8,616,354

 
 
 

(358,895)

 
 
 

9,364,581

 
 
 

1,853,373

 

Net Loss for The Period

 
 

(12,924,120)

 
 
 

(2,333,617)

 
 
 

(15,721,140)

 
 
 

(7,211,616)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Comprehensive Loss for The Period

 
 

(12,924,120)

 
 
 

(2,333,617)

 
 
 

(15,721,140)

 
 
 

(7,211,616)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Weighted average shares (after 18 to 1 reverse split)

 
 

108,922

 
 
 

5,417

 
 
 

70,307

 
 
 

4,691

 

Basic and diluted loss per share

 
 

(118.65)

 
 
 

(430.78)

 
 
 

(223.61)

 
 
 

(1,537.33)

 

 

Reconciliation to Adjusted EBITDA

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

 
 
 

Three Months Ended

 
 

Six Months Ended

 
 
 

June 30,
2024

 
 

June 30,
2023

 
 

June 30,
2024

 
 

June 30,
2023

 

Net operating loss

 
 

(4,307,766)

 
 
 

(2,692,512)

 
 
 

(6,356,559)

 
 
 

(5,358,243)

 

addback

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Amortization And Depreciation

 
 

433,129

 
 
 

453,499

 
 
 

837,787

 
 
 

855,139

 

Share-Based Payments

 
 

83,762

 
 
 

260,705

 
 
 

200,886

 
 
 

571,533

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Adjusted EBITDA

 
 

(3,790,875)

 
 
 

(1,978,308)

 
 
 

(5,317,886)

 
 
 

(3,931,571)

 

 

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SOURCE Siyata Mobile Inc.

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NAVER Partners with Brookfield and NVIDIA to Expand Korea’s National AI Factory Infrastructure Buildout

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SAN FRANCISCO, July 25, 2026 /PRNewswire/ — NAVER, Brookfield and NVIDIA announced an expansion of Korea’s sovereign AI factory infrastructure. New investments will increase the initial NVIDIA DSX™ AI factory deployment from 55 megawatts to 200 megawatts.

Announced during Korea President Jae Myung Lee’s AI Summit visit to San Francisco, the planned 200-megawatt expansion will be built with the NVIDIA DSX platform at NAVER’s GAK Sejong hyperscale data center in Sejong, South Korea. The expanded infrastructure will provide Korea- and U.S.- based AI innovators with access to production-scale AI compute for building next-generation models, agents and AI-powered services.

Under the terms of the agreements, Brookfield will fund up to $9 billion as the exclusive capital partner, NVIDIA will invest $1 billion and NAVER will fund the remaining amount to finance the $10 billion project.

This builds on NAVER’s June announcement to extend its GAK Sejong data center with NVIDIA DSX, with a long-term path to gigawatt-scale sovereign AI infrastructure serving Korea’s enterprises, industries, government organizations and global AI cloud customers. Combining Brookfield’s capital with NVIDIA’s computing platform, the investment supports NAVER’s AI factory deployment.

“NVIDIA’s strategic investment and our infrastructure supply agreement with Brookfield have propelled NAVER’s vision for the AI Factory business into a robust execution phase,” said Haejin Lee, Founder and Chairman of NAVER. “Leveraging the solid partnerships with our global partners, we will drive technological innovation, foster a sovereign AI ecosystem, and spearhead efforts to strengthen South Korea’s AI competitiveness.” 

AI Factory Expansion and Open Model Collaboration to Fuel AI Innovators

NAVER, as an NVIDIA Cloud Partner, provides deep expertise in operating hyperscale infrastructure powered by the full-stack NVIDIA AI platform. The 200-megawatt AI factory, featuring NVIDIA Vera Rubin and Blackwell platforms, will establish a dedicated resource pool for emerging AI companies, providing the compute, software and support needed to develop and deploy competitive AI models and applications at scale.

This expanded infrastructure also builds on NAVER and NVIDIA’s collaboration on open model development for agentic and physical AI. NAVER is advancing its HyperCLOVA X models to be based on NVIDIA Nemotron™ 3 Ultra open models with its proprietary data and training expertise. NAVER is also the first Korean company to join the NVIDIA Nemotron Coalition, contributing to open model development across pretraining, post-training and reinforcement learning.

NAVER plans to launch an AI agent platform in Korea in the second half of the year, powered by NVIDIA Agent Toolkit software including NVIDIA NemoClaw™ blueprints. NAVER is also developing a Seoul World Model using proprietary urban street-view and spatial modeling data, built on NVIDIA Cosmos™ world foundation models.

About NAVER

Founded in 1999, NAVER is Korea’s largest Internet company and one of the world’s top tech companies. Leading cutting-edge technologies, NAVER operates the No.1 search engine in Korea and holds various business portfolios encompassing commerce, fintech, cloud, AI and robotics.

NAVER recorded sales of KRW 12.04 trillion (USD 8.18 billion) in 2025. TEAM NAVER continues to enhance its business portfolio and expand its global presence across Japan, North America, and Europe, while pursuing innovation through continuous research and development in future technologies.

View original content:https://www.prnewswire.com/news-releases/naver-partners-with-brookfield-and-nvidia-to-expand-koreas-national-ai-factory-infrastructure-buildout-302834577.html

SOURCE NAVER

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Beijing Review: Walking Through Time: China and U.S. Youths Explore Dali’s Past and Future

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BEIJING, July 24, 2026 /PRNewswire/ — On July 17, a China-U.S. youth delegation came to Dali of Yunnan Province. By examining how Dali’s rich history intersects with modern development, the delegates explored new pathways for rural development.

They visited Dali Old Town, tried their hand at making the Bai people’s Three-Course Tea and also explored the ancient town of Xizhou, where they learned how modern tourism and indigenous life coexist.

In Yunnanyi Village, they explored its history as a stop along the Tea Horse Road and learned about the role it played during the Second World War (WWII).

Tyler James Smith

“I think it’s a very underappreciated part of World War II history. Hearing these stories of different countries working together despite cultural differences is incredibly inspiring.

I also think there are many stories like these that haven’t been widely told, simply because World War II is such a complex period in history. That’s why I think it’s so meaningful to visit museums like this and experience these stories firsthand.”

At Xiangyun Economic and Technological Development Zone, they visited a local new energy company to see how green, low-carbon development is driving regional growth.

Valerie Marie

“I recently started studying energy transitions. I know China has been really big in the renewable energy sector. So actually getting to hear more about [China’s] 2060 [pledge], learning more about carbon neutrality [goals], as well as other zero-carbon goals, was cool.”

During their stay in Dali, they also strolled along the Erhai Lake Ecological Corridor.

Bai Yiwen

“I’d describe this journey as “to be continued,” because my own connection with Yunnan is far from over. For the U.S. delegates, this was only their first visit, so they’ve only had a glimpse of what Yunnan has to offer. I hope they will have more opportunities to come back to China, explore other cities in Yunnan, and discover even more of its people, culture and traditions.”

After Dali, the delegates will visit Beijing for more tours and exchanges. The event was co-hosted by China International Communications Group (CICG) Center for the Americas and the U.S.-based International Student Conferences.

https://x.com/beijingreview/status/2080104404552663067?s=46&t=yfVMVdMyE2zKAFrYaLoV-g

https://www.facebook.com/share/v/1EtGCCKzy4/?mibextid=wwXIfr

https://www.tiktok.com/@cachinachic/video/7665536913532587294?is_from_webapp=1&sender_device=pc&web_id=7227134149436605995

https://youtu.be/jGONWTqwduc?is=KfL-Zn3HyVYE-KEm

Contact: Jiaweibellapeng@163.com

View original content:https://www.prnewswire.com/news-releases/beijing-review-walking-through-time-china-and-us-youths-explore-dalis-past-and-future-302834587.html

SOURCE Beijing Review

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

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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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