Connect with us

Technology

HOME SELLER PROFIT MARGINS DROP SLIGHTLY ACROSS U.S. AS HOUSING MARKET SLOWS DURING THIRD QUARTER

Published

on

Returns on Typical U.S. Home Sales Remain High but Dip Down Quarterly and Annually;Typical Margin at 56 percent as Median U.S. Home Price Levels Out Over Summer; Median Raw Profits Hold Steady at Just Under $130,000

IRVINE, Calif., Oct. 17, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its third-quarter 2024 U.S. Home Sales Report, which shows that homeowners earned a 55.6 percent profit margin on typical single-family home and condo sales in the United States during the third quarter. That figure was down by small amounts both quarterly and annually, dipping by one percentage point from the second quarter of 2024 and two points from the third quarter of last year.

The nationwide investment return ticked downward as home-price spikes that had buoyed the housing market during the Spring of this year flattened out, leaving the U.S. median home value virtually unchanged at about $360,000. While home-seller profits remain historically high, the national margin has declined almost every quarter from a 64 percent peak hit in 2022.

The leveling off of prices during the third quarter also led to typical raw profits for sellers staying about the same, near an all-time high of just under $130,000.

“The latest price and profit numbers provided another round of generally good news for homeowners, tempered by a bit of a downside,” said Rob Barber, CEO for ATTOM. “Home values remained at or near record levels around large swaths of the country, keeping seller profits far above historical levels. At the same time, though, the housing market settled down after a big second quarter, which extended a slow fallback in profit margins that started last year. If history is a good guide, the fourth quarter is likely to bring more of the same as the peak buying season ends.”

He added that “this is far from a warning sign that the long market boom is ending. But there certainly are forces that could cut either way, especially as affordability remains a challenge for so many potential buyers.”

Profit margins slip quarterly in half of U.S. and annually in three-quarters of nation
Typical profit margins – the percent difference between median purchase and resale prices – stayed the same or decreased from the second quarter of 2024 to the third quarter of 2024 in 79 (50.6 percent) of the 156 metropolitan statistical areas around the U.S. with sufficient data to analyze. They were down annually in 112, or 71.8 percent, of those metros, and down in about the same portion since the second quarter of 2022, when the nationwide return on median-priced home sales peaked at 64.3 percent.

Profit margins have softened over the past year throughout all price segments of the market, from metro areas where home values mostly sit below $250,000 to those where they top $450,000. But the low end of the market has fared a bit better. Typical margins decreased annually in about 60 percent of the least expensive metro areas compared to about 75 percent elsewhere.

The biggest year-over-year decreases in typical profit margins during the third quarter of 2024 came in the metro areas of San Francisco, CA (margin down from 84.9 percent in the third quarter of 2023 to 61.4 percent in the third quarter of 2024); Punta Gorda, FL (down from 94.1 percent to 74.4 percent); Scranton, PA (down from 88.2 percent to 69.6 percent); South Bend, IN (down from 77.3 percent to 59.2 percent) and Hilo, HI (down from 86.5 percent to 70.5 percent).

Aside from San Francisco, the biggest annual profit-margin decreases in metro areas with a population of at least 1 million in the third quarter of 2024 were in Austin, TX (typical return down from 44.3 percent to 33.3 percent); Honolulu, HI (down from 53.9 percent to 43.3 percent); Riverside, CA (down from 78.6 percent to 69 percent) and Birmingham, AL (down from 52.1 percent to 42.7 percent).

The biggest annual improvements in returns on investment came in Trenton, NJ (margin up from 65.5 percent in the third quarter of 2023 to 87.4 percent in the third quarter of 2024); Albany, NY (up from 31.8 percent to 51.6 percent); Rockford, IL (up from 54.5 percent to 70.2 percent); Rochester, NY (up from 66.7 percent to 81.2 percent) and Evansville, IN (up from 47.2 percent to 61.7 percent).

Two-thirds of metro markets enjoying investment returns above 50 percent
Despite the downward trend, returns on investment for median-priced home sales during the third quarter of 2024 still surpassed 50 percent in 107 of the metro areas analyzed (68.6 percent). That was down from three quarters of those areas in the third quarter of last year but far above the level of 13 percent five years ago.

The leaders among areas with a population of at least 1 million in the third quarter of this year were San Jose, CA (typical return of 109.8 percent); Seattle, WA (90.3 percent); Providence, RI (84.6 percent); Miami, FL (83.9 percent) and Grand Rapids, MI (81.9 percent).

The lowest among areas with a population of at least 1 million were in New Orleans, LA (24.8 percent); San Antonio, TX (25.1 percent); Austin, TX (33.3 percent); Houston, TX (37.3 percent) and Dallas, TX (37.4 percent).

Raw profits remain near record level
The raw profit on median-priced home sales nationwide, measured in dollars, slipped 0.9 percent during the months running from July through September of this year, to $128,700. But it was still up 2.7 percent from the third quarter of 2023 and remained near the record of $135,000 hit in 2022.

Typical raw profits were flat or down quarterly in 74, or 47.4 percent, of the markets analyzed. Despite the nationwide year-over-year gain, raw profits were the same or down annually in 82, or 52.6 percent of those metro areas.

The biggest year-over-year increases in raw profits on typical sales among metro areas with a population of at least 1 million were in Rochester, NY (up 24.4 percent); Cleveland, OH (up 23.5 percent); Providence, RI (up 18.9 percent); Chicago, IL (up 18.8 percent) and Cincinnati, OH (up 15 percent).

Raw profits on median-priced sales exceeded $100,000 during the third quarter in 67.3 percent of the metro areas analyzed, with 19 of the top 20 along the east or west coasts. They were led by San Jose, CA (raw profit of $785,000); San Francisco, CA ($380,600); San Diego, CA ($377,000); Los Angeles, CA ($376,000) and Barnstable, MA ($361,968).

The 25 lowest raw profits were all in the Midwest or South. The smallest were in Beaumont, TX ($15,481); Lubbock, TX ($29,740); Montgomery. AL ($35,590); Macon, GA ($37,692) and McAllen, TX ($40.312).

National median home value stalls in Summer of 2024, but still at all-time high
Nationwide, the median price of single-family homes and condos rose from the second to the third quarter of 2024 by just 0.2 percent after spiking 7.4 percent in the Spring. But it still hit a new record of $360,500, up from $359,900 in the prior three-month period. The latest median was up 5.3 percent from $342,500 in the third quarter of last year.

The typical value increased quarterly in 52.5 percent of the metro areas around the country with enough data to analyze and annually in 81.6 percent. It hit new highs during the third quarter in 50 percent of those markets.

Metro areas in upper half of the U.S. market, concentrated in the West and South regions, suffered the largest quarterly price declines. About two-thirds of those locations, with typical values of at least $350,000, absorbed losses. Measured annually, the best gains came in low-priced areas, clustered more in the Midwest and Northeast.

Markets with a population of at least 1 million and the biggest quarterly decreases in median home prices were San Francisco, CA (down 11.1 percent from the second to the third quarter of this year, to $1 million); Austin, TX (down 10.5 percent, to $425,000); New Orleans, LA (down 6.6 percent, to $242,900); San Jose, CA (down 6.1 percent, to $1.5 million) and Indianapolis, IN (down 4.2 percent, to $263,560).

The largest annual median-price increases in metro areas with a population of at least 1 million were in Rochester, NY (up 11.1 percent from the third quarter of 2023 to the third quarter of 2024, to $250,000); Providence, RI (up 10.3 percent, to $480,000); Hartford, CT (up 9.6 percent, to $367,000); Detroit, MI (up 9.4 percent, to $255,000) and Cleveland, OH (up 9.4 percent, to $221,000).

Historical Median Home Sales Prices 

Homeowners staying longer before selling
Homeowners who sold in the third quarter of 2024 had owned their homes an average of 8.09 years. That was up from 7.82 years in the second quarter of 2024 and from 7.74 years in the third quarter of 2023, marking the fifth increase in the last six quarters.

Average tenure was up from the third quarter of 2023 to the same period this year in 82 percent of metro areas with sufficient data. The largest annual increases were in Peoria, IL (tenure up 15 percent); Crestview, FL (up 14 percent); Medford, OR (up 14 percent); Salinas, CA (up 11 percent) and Fort Collins, CO (up 10 percent).

The longest average tenures for owners who sold in the third quarter were again in the Northeast or West regions of the U.S. They were led by Barnstable, MA (13.84 years); Bridgeport, CT (13.23 years); New Haven, CT (12.81 years); Hartford, CT (12.81 years) and San Francisco, CA (12.69 years).

Average U.S. Homeownership Tenure

The shortest average tenures among third-quarter sellers were in Provo, UT (6.62 years); Oklahoma City, OK (6.69 years); Lakeland, FL (6.81 years); San Antonio, TX (6.83 years) and Austin, TX (6.87 years).

Lender-owned foreclosures still decreasing
Home sales following foreclosures by banks and other lenders represented just 1.3 percent, or one of every 78 U.S. single-family home and condo sales in the third quarter of 2024. That was down from 1.4 percent in both the second quarter of 2024 and the third quarter of last year. The portion continues to represent just a tiny fraction of the 30.1 percent peak this century hit in 2009 during the aftermath of the Great Recession of 2007.

Among metro areas with sufficient data, those where REO sales represented the largest portion of all sales in the third quarter of 2024 included Honolulu (7.5 percent); Albany, NY (4.9 percent); Flint, MI (4.7 percent); Macon, GA (4.6 percent) and St. Louis, MO (3.6 percent).

Cash sales drop as portion of all transactions
Nationwide, all-cash sales accounted for 37.2 percent of single-family home and condo sales in the third quarter of 2024. That was down from 38.9 percent in the second quarter of 2024, although up slightly from 36.9 percent in the third quarter of last year.

Among metropolitan areas with sufficient data, those where all-cash sales represented the largest share of all transactions in the third quarter of 2024 included Myrtle Beach, SC (69 percent of all sales); ClaremontLebanon, NH (64.8 percent); Macon, GA (59.9 percent); Warner Robins, GA (58.3 percent) and Hilton Head, SC (58 percent).

Those where cash sales represented the smallest share of all transactions in the third quarter of 2024 included Greeley, CO (15.7 percent); Hagerstown, MD (19.6 percent); Jacksonville, NC (21.6 percent); Washington, DC (22.2 percent) and Kennewick, WA (22.3 percent).

Institutional investment decreases again
Institutional investors nationwide accounted for 6 percent, or one of every 17 single-family home and condo sales in the third quarter of 2024. That was down from 6.2 percent in the second quarter of 2024 and from 6.6 percent in the third quarter of last year.

Among states with enough data to analyze, those with the largest percentages of sales to institutional investors in the third quarter of 2024 included Alabama (9.1 percent of all sales), Tennessee (8.9 percent), Oklahoma (8.4 percent), Georgia (8.2 percent) and Texas (8.1 percent).

Historical Home Sales by Type

FHA-financed purchases stay roughly the same
Nationwide, buyers using Federal Housing Administration (FHA) loans comprised 8.4 percent of all single-family home and condo sales in the third quarter of 2024 (one of every 12). That was about the same as the 8.2 percent level in second quarter of 2024 and down slightly from 8.7 percent a year earlier.

Among metropolitan areas with sufficient FHA-buyer data, those with the highest levels of FHA sales in the third quarter of 2024 included Lakeland, FL (24.1 percent of all sales); Merced, CA (23.5 percent); Bakersfield, CA (21.7 percent); Yuma, AZ (20.6 percent) and Visalia, CA (19.6 percent).

Report methodology
The ATTOM U.S. Home Sales Report provides percentages of REO sales and all sales that are sold to institutional investors and cash buyers, at the state and metropolitan statistical area. Data is also available at the county and zip code level, upon request. The data is derived from recorded sales deeds, foreclosure filings and loan data. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available.

Definitions
All-cash purchase: sale where no loan is recorded at the time of sale and where ATTOM has coverage of loan data.

Homeownership tenure: for a given market and given quarter, the average time between the most recent sale date and the previous sale date, expressed in years.

Home seller price gains: the difference between the median sales price of homes in a given market in a given quarter and the median sales price of the previous sale of those same homes, expressed both in a dollar amount and as a percentage of the previous median sales price.

Institutional investor purchases: residential property sales to non-lending entities that purchased at least 10 properties in a calendar year.

REO sale: a sale of a property that occurs while the property is actively bank owned (REO).

About ATTOM 
ATTOM provides premium property data and analytics that power a myriad of solutions that improve transparency, innovation, digitization and efficiency in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloudbulk file licensesproperty data APIsreal estate market trendsproperty navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications – AI-Ready Solutions

Media Contact:
Megan Hunt
megan.hunt@attomdata.com 

Data and Report Licensing:
datareports@attomdata.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/home-seller-profit-margins-drop-slightly-across-us-as-housing-market-slows-during-third-quarter-302278524.html

SOURCE ATTOM

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Tony Jaa Becomes GAC’s 30-Millionth Customer – GAC Wins Global Trust with “True Craftsmanship”

Published

on

By

GUANGZHOU, China, July 25, 2026 /PRNewswire/ — On July 16, at the roll-off ceremony for GAC’s 30-millionth vehicle, Feng Xingya, Chairman of GAC Group, handed over the key to the right-hand-drive GAC M8 PHEV (named GN8 overseas) to Tony Jaa. The milestone vehicle is headed straight for overseas markets.

Thai action superstar Tony Jaa’s choice reflects the trust of 30 million customers worldwide. That trust is built not on showmanship, but on GAC’s solid manufacturing “true craftsmanship.”

From Guangzhou to the world, there are no shortcuts – quality speaks for itself. While the industry runs standard “three-high” tests, GAC pushes further with “five-high, one-mountain, one-dust” extreme vehicle trials. New models undergo at least “two winters and one summer” of validation – a minimum 18 months of real-world road testing, covering 12 major categories and over 1,500 sub-items across wind tunnel labs and proving grounds.

For each overseas market, GAC conducts additional adaptive testing for local climate and road conditions – from Middle Eastern desert heat to Southeast Asia’s humidity and heavy rains.

Quality consistency starts at the smart manufacturing front. GAC’s AION Intelligent Eco-Plant is the world’s first “Lighthouse Factory” for new energy vehicles, featuring full-process digital quality monitoring. Automated robots with AI vision systems deliver millisecond response and millimeter-level precision – ensuring uniform quality whether vehicles roll off lines in Guangzhou or overseas plants.

Safety comes first. GAC’s magazine battery has been deployed in 1.5 million vehicles, accumulating over 160 billion kilometers of safe driving. The Starlink Safety Protection System serves nearly 2 million users, preventing 6.28 million potential incidents.

With this commitment to quality and safety, GAC has established a presence in 110 countries and won the trust of 30 million users. Standing at this new milestone, GAC will continue to refine its craftsmanship and deliver worry-free, high-quality mobility experiences to every customer worldwide.

For further information about GAC, please visit: https://www.gacgroup.com/en or follow us on social media.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/tony-jaa-becomes-gacs-30-millionth-customer–gac-wins-global-trust-with-true-craftsmanship-302834637.html

Continue Reading

Technology

Alisira OÜ Publishes Findings on Why Most Marketing Dashboards Miss the Metrics That Matter

Published

on

By

Alisira OÜ has published a set of findings examining why so many marketing dashboards continue to fail to surface the numbers that actually shape decisions. The review looks at the gap between the volume of data modern platforms can collect and the amount that actually gets used when a marketing team sits down to figure out what is supposed to happen next.

TALLINN, Estonia, July 25, 2026 /PRNewswire-PRWeb/ — A Widening Gap Between Data Collection and Decision-Making

What there is often a shortage of, according to Alisira, is a dashboard that actually connects the numbers it displays to a decision someone in the room is genuinely trying to make. That distinction is where most measurement setups tend to fall apart quietly. A dashboard can be full of activity metrics, things like impressions, click volume, and session counts, without ever getting around to answering the question a budget owner is really asking. That question is usually some version of whether a given effort is working and whether more resources should be put behind it. Engagement is easy to display. Revenue contribution by channel takes more work to calculate correctly, particularly once multiple touchpoints and delayed purchases are involved, so it is the piece that tends to be most often left out of the weekly report. However, it is also the piece that leadership actually cares about when the conversation turns serious.

Where Standard Dashboards Fall Short

Alisira’s review identifies several categories of metrics that tend to be underrepresented on standard marketing dashboards, even in cases where the underlying data would in principle be accessible:

Cross-channel attribution, as opposed to last-click or single-platform creditCustomer lifetime value by acquisition source, rather than only first-purchase conversion ratesTime-to-conversion, which is frequently collapsed into a single count with no indication of the lag that is actually involvedAssisted conversions, where a channel contributed to a sale without being the final touchpointCohort-based retention figures, in place of a single blended retention % that has a tendency to hide which groups are actually staying and which are quietly leaving

Part of the difficulty is traceable back to how fragmented most measurement setups tend to be in the first place. Only 32% of marketers globally measure their media spending across both digital and traditional channels, according to Nielsen, which leaves the majority of teams working from a partial view before the dashboard-design questions have even come into play. Alisira’s findings suggest this is less a tooling problem than it is a structural one. What most organizations lack, more often than not, is a single point in the workflow where channel-level data is reconciled before it reaches a decision-maker in a usable form.

Alisira OÜ frames these findings as part of a broader shift away from dashboards built to display everything a platform can track, toward dashboards built around a smaller, more deliberate set of numbers tied to what a team actually decides to do next. The company plans to continue publishing analysis on measurement practices and marketing reporting in the months ahead.

Media Contact

Norman Drew, Alisira OÜ, 372 53687131, info@alisira.net, https://www.alisira.net/

View original content:https://www.prweb.com/releases/alisira-ou-publishes-findings-on-why-most-marketing-dashboards-miss-the-metrics-that-matter-302833819.html

SOURCE Alisira OÜ

Continue Reading

Technology

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

Published

on

By

Hyundai Motor Group shares roadmap for realizing its Physical AI vision and collaboration strategy with global tech leaders at the San Francisco AI Summit
Executive 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 advancement
The Group to leverage strategic partnerships with global technology leaders, including NVIDIA and Waymo, as well as Boston Dynamics’ strategic partnership with Google DeepMind
The 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

View original content to download multimedia:https://www.prnewswire.com/news-releases/hyundai-motor-group-executive-chair-euisun-chung-announces-physical-ai-vision-at-san-francisco-ai-summit-302834557.html

SOURCE Hyundai Motor Company

Continue Reading

Trending