Automobiles · Apex of group circular ownership
Hyundai Motor Company
Korea's largest automaker and the apex of Hyundai Motor Group's circular ownership. FY2025 revenue reached a record KRW 186.254 trillion, while operating profit fell 19.5% to KRW 11.468 trillion (6.2% margin). In H1 2026, revenue rose 2.7% to KRW 95.154 trillion and hybrid sales reached 353,668 units, but operating profit declined 25.8% to KRW 5.366 trillion. Stakes in Hyundai Transys (41.13%), Kia (35.17%) and Hyundai Wia (25.35%), together with its battery and AI procurement network, show how automaking margins feed into parts, electrification and robotics capital allocation.
Business categories Automakers · Automotive & Mobility · primary
005380.KS Updated Oct 10, 2026 5 AI consumers· 4 recurring
Per the valuechain.wiki graph, Hyundai Motor Company is directly linked to 10 companies (8 supply, 0 revenue, 3 investment relationships) and reaches 69 companies within two hops; the links are backed by 29 dated sources, 7 of them primary filings (as of 2026-10-10).
Annual return · 2026-10-08'21-16.7%'22-4.7%'23+16.2%'24+12.3%'25+158.8%YTD-34.2%
Money in ▸Auto-finance customers (Finance segment, Hyundai Capital)●Global vehicle customers (Vehicle segment)●
Hyundai Motor CompanyKRW 95.154tn
Financials & Segments
- Total revenue · KRW 95.154tn (H1 2026 consolidated, +2.7% YoY) · KRW 186.254tn (FY2025)
- Customer concentration · H1 2026 operating profit KRW 5.366tn (-25.8% YoY). Stakes: Hyundai Transys 41.13%, Hyundai Wia 25.35%.
- Segments · Vehicles · Finance · Other
Revenue from
- Auto-finance customers (Finance segment, Hyundai Capital) High confidence
The Finance segment supporting vehicle sales — installment finance, leasing and payment processing (Hyundai Capital) generate steady interest income from dealers and consumers. Downstream of the vehicle cycle, it cushions group profit when auto margins compress (symmetric to Kia's structure). - Global vehicle customers (Vehicle segment) High confidence
The core of Hyundai's results — the Vehicle segment selling passenger, RV and commercial vehicles across domestic, North American, European and other markets is the bulk of FY2025 revenue of KRW 145.6tn (consolidated KRW 186.3tn, OP KRW 11.5tn). With the US the largest export market, tariffs and incentives are the key margin variable; end consumers are many and anonymous.Confirms EN Hyundai Motor Company Published Jul 23, 2026: Hyundai Motor Reports Second-Quarter and First-Half 2026 Global Retail Sales Results
Pays to
- SK온 (SK이노베이션) High confidence· Amount $5B · JV 투자
HSBMA US battery-cell JV (50:50, $5B total, Bartow County GA, 35GWh/yr for 300k EVs); cells go entirely into US-built Hyundai, Kia and Genesis EVs via Mobis packs.Mentions EN Analyst consensus (via Investing.com) Published May 1, 2026: Hyundai Motor analyst consensus (Buy): earnings modeled on US tariff easing 25%->15%Confirms EN Seoul Economic Daily Published Mar 27, 2026: Hyundai and SK On finalize US battery JV 'HSBMA'Confirms EN Hyundai Motor Group Published Apr 25, 2023: Hyundai Motor Group and SK On to establish US battery JV - LG Energy Solution High confidence· Amount $4.3B · 조지아 JV
Two battery-cell JVs: Bryan County GA ($4.3B, 50:50, 30GWh) and HLI Green Power Indonesia ($1.1B, Karawang, 10GWh, opened Jul 2024).Confirms EN Investment Monitor Published Jul 3, 2024: Hyundai and LG open Indonesia's first EV battery plantConfirms EN LG Energy Solution Published May 25, 2023: LGES and Hyundai to establish US battery JV ($4.3B) - Hyundai Wia High confidence· Amount ₩353.9B · H1 2026 · Consolidated related-party sales to Hyundai Motor
Hyundai Wia is a direct supplier. Supplies engines, driveline systems and CV joints to Hyundai Motor. H1 2026 consolidated related-party sales were KRW 353.9 billion. - onsemi (EliteSiC traction inverter) High confidence
Hyundai Motor Group adopts onsemi's EliteSiC power module for the traction inverter of its high-performance EVs (Kia EV6 GT and other E-GMP vehicles) — the SiC inverter is a key part lifting 800V drive efficiency and range.Confirms EN onsemi Published Jan 4, 2023: onsemi SiC power module for traction inverters selected for Hyundai Motor Group's high-performance EVs (Kia EV6 GT) - NVIDIA High confidence
Adopts Omniverse (factory digital twins), Isaac (robotics) and DRIVE Hyperion (Hyundai/Kia vehicles plus Motional), building an AI factory with 50,000 Blackwell GPUs (2025).Confirms EN NVIDIA Published Nov 1, 2025: Hyundai, Kia and NVIDIA expand autonomous-driving partnershipConfirms EN Hyundai Motor Group Published Jan 9, 2025: Hyundai Motor Group partners with NVIDIA on AI - Samsung Electronics High confidence
First Exynos Auto V920 (premium IVI) supply, plus Samsung Foundry won Hyundai's in-house autonomous-driving chip on 8nm (develop by 2028, mass production 2030).Confirms KO ZDNet Korea Published Jun 7, 2023: Samsung supplies Exynos Auto to Hyundai for the first time - Hyundai Transys High confidence
Hyundai Motor sources transmissions, electrified drivetrains and seats from Hyundai Transys. Hyundai Motor's H1 2026 filing names Hyundai Transys as a seat supplier to its Indonesian plant, while Hyundai Transys says it mass-produces the Group's next-generation e²AT hybrid powertrain. The company-level transaction value is not disclosed. - CATL Medium confidence
CATL batteries in Kona EV and Niro EV (NCM) and Ray EV (LFP); CATL LFP planned for the new China-market Ioniq. - PPG Industries Medium confidence
Hyundai Motor Company, along with Kia, procured automotive paint from PPG Korea for plants outside South Korea. The current contract value and revenue share are not disclosed.Confirms KO Maeil Business Newspaper Published Oct 6, 2009: PPG Korea earns the world's highest rating for flame-retardant coatings
Investments
- Motional (앱티브 JV) High confidence· Amount $475M · 2024 추가 투자
AV JV: additional $475M investment in May 2024 raised Hyundai's stake (Aptiv common equity cut from ~44% to ~15%); Ioniq 5 robotaxi launch pushed to 2026. - Boston Dynamics High confidence· Market share 100% · 2026 완전자회사
Acquired control from SoftBank in 2021 ($1.1B, 80%), then the remaining 9.65% for $325M in 2026 for full ownership; Atlas slated for the Georgia EV plant by 2028.Confirms EN Hyundai Motor Group Published Jun 21, 2021: Hyundai completes Boston Dynamics acquisition (80%) - Hyundai Transys High confidence· Market share 41.13% · 2026-06-30 · Hyundai Motor's ownership stake in Hyundai Transys
Hyundai Motor is the largest shareholder of Hyundai Transys with 33,682,754 common shares, or 41.13%. Together with Kia at 40.0%, it controls the transmission, electrified-drivetrain and seat supplier.Confirms EN Hyundai Motor Company Published Mar 18, 2026: Hyundai Motor 2025 Consolidated Audit Report - Hyundai Rotem Company High confidence· Market share 33.8% · 2025 year-end · Hyundai Rotem 2025 shareholder status
Hyundai Motor holds 36,856,636 Hyundai Rotem common shares, a 33.8% stake, giving the group equity exposure to Rotem's defense and rail growth.Confirms KO Hyundai Rotem Published Dec 31, 2025: Hyundai Rotem stock information: 2025 shareholder status - Hyundai Wia High confidence· Market share 25.35% · 2026-06-30 · Stake in Hyundai Wia common shares
Largest shareholder of Hyundai Wia with a 25.35% common-share stake.Confirms EN Hyundai Motor Company Published Mar 18, 2026: Hyundai Motor 2025 Consolidated Audit Report - Kia (35.17% stake) High confidence
Hyundai Motor is Kia's largest shareholder at 35.17%, one leg of the circular ownership (Hyundai→Kia→Mobis→Hyundai). The two automakers share the E-GMP platform, battery sourcing and US Georgia production, jointly carrying group volume.Confirms KO DART (Financial Supervisory Service) Published Mar 12, 2026: Kia FY2025 Annual Business Report (DART, filed 2026-03-12)
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Hyundai Motor Company | node | -16.7 | -4.7 | +16.2 | +12.3 | +158.8 | -34.2 |
| onsemi | benef1 | +107.5 | -8.2 | +33.9 | -24.5 | -14.1 | +37.4 |
| SK Innovation (SK On) | benef1 | -22.9 | -22.4 | -26.2 | +8.9 | -10.6 | +23.5 |
| NVIDIA | benef1 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.2 |
| PPG Industries | benef1 | +21.3 | -25.7 | +21.2 | -18.5 | -12 | +3.4 |
| CATL | benef1 | +67.4 | -21.4 | -40.6 | +74.5 | +39.4 | +2.2 |
| LG Energy Solution | benef1 | · | · | -26.9 | -7.6 | +13.1 | +0.8 |
| Kia | benef1 | +3.1 | -13.8 | +54 | +3.7 | +60.1 | -26.9 |
| Hyundai Rotem Company | benef1 | -3.4 | +48.4 | +3.1 | +108.8 | +290.1 | -54.2 |
| Nan Ya PCB | benef2 | +110.6 | -46.7 | -0.5 | -38.3 | +188.2 | +280.5 |
| Micron Technology | benef2 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +256.4 |
| Unimicron | benef2 | +133.5 | -30.2 | +35.2 | -19.7 | +175.7 | +236.2 |
| ASE Technology | benef2 | +38.3 | -12.8 | +60.9 | +10.1 | +65.6 | +191.3 |
| Nebius Group | benef2 | · | · | · | · | +202.2 | +170.5 |
| Kioxia | benef2 | · | · | · | · | +1082.1 | +155 |
| Ibiden | benef2 | +30.4 | -19.6 | +51.6 | -38.6 | +261 | +149.3 |
| Lumentum | benef2 | +11.6 | -50.7 | +0.5 | +60.1 | +339.1 | +139.1 |
| Murata Manufacturing | benef2 | -14 | -11.7 | +24.7 | -16.5 | +29.9 | +131.5 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +105.7 |
| Applied Materials | benef2 | +83.6 | -37.5 | +68 | +1.1 | +59.6 | +98 |
| SK hynix | benef2 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +85.3 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| LS ELECTRIC | benef2 | -19.2 | +11.4 | +37.4 | +234.2 | +145 | +73.2 |
| Coherent | benef2 | -10 | -48.6 | +24 | +117.6 | +94.8 | +69.4 |
| Samsung Electronics | benef2 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +63.8 |
| Delta Electronics | benef2 | -3.4 | +10.4 | -0.3 | +59.2 | +183.8 | +61.9 |
| Keysight Technologies | benef2 | +56.3 | -17.2 | -7 | +1 | +26.5 | +61 |
| Monolithic Power | benef2 | +35.5 | -27.8 | +79.8 | -5.6 | +54.5 | +53.7 |
| Analog Devices | benef2 | +21 | -4.9 | +23.4 | +8.8 | +29.8 | +51.1 |
| TSMC | benef2 | +12.1 | -36.7 | +42.3 | +92.6 | +55.9 | +50.3 |
| Wistron | benef2 | +7.9 | +9.7 | +272.7 | -1.6 | +22.7 | +49.7 |
| Lotte Energy Materials | benef2 | +31.5 | -32.9 | -49.3 | -30 | +75.8 | +42.1 |
| Pegatron | benef2 | -5.9 | +0.6 | +35.3 | +21.2 | -23.8 | +34.5 |
| Amphenol | benef2 | +34.9 | -12 | +31.5 | +41.3 | +96.1 | +29.8 |
| Eoptolink | benef2 | -10.1 | -27.7 | +136.6 | +197 | +368.8 | +29.1 |
| InnoLight | benef2 | -30.7 | -18.3 | +253.7 | +12 | +468.1 | +25.6 |
| Digital Realty | benef2 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +23.4 |
| Mitsubishi Chemical Holdings | benef2 | +29 | -15.5 | +27.7 | -8.1 | +33.5 | +23.4 |
| ABB | benef2 | +23.9 | +7.3 | +18.9 | +39 | +36.1 | +18.4 |
| Umicore | benef2 | -27.5 | +5.9 | -37.1 | -51.4 | +111.6 | +17 |
| Sociedad Química y Minera de Chile S.A. | benef2 | +6.8 | +71.8 | -18.3 | -39.4 | +89.2 | +12.4 |
| Daejoo Electronic Materials | benef2 | +98.4 | -2.3 | -19.4 | +48.5 | -25.9 | +11.6 |
| King Yuan Electronics (KYEC) | benef2 | +26.7 | -7.7 | +132.4 | +38.6 | +171 | +8.4 |
| Dai Nippon Printing | benef2 | +56.5 | +13.9 | +42.6 | +8.5 | +22.5 | +7.4 |
| Recursion Pharmaceuticals | benef2 | · | -55 | +27.9 | -31.4 | -39.5 | +6.6 |
| BlackRock | benef2 | +29.4 | -20.4 | +17.9 | +29.3 | +6.6 | +2.8 |
| TE Connectivity | benef2 | +35.1 | -27.7 | +24.6 | +3.5 | +61.1 | -3 |
| Hyundai Mobis | benef2 | -25.8 | -9.3 | +2.1 | +27.7 | +74.5 | -4.6 |
| Yunnan Energy New Material (SEMCORP) | benef2 | +92.8 | -38.6 | -72.6 | -29.2 | +76.4 | -5.3 |
| Luxshare Precision | benef2 | -11.9 | -30.2 | -21.2 | +58.8 | +29.3 | -7.4 |
| L&F | benef2 | +139.2 | +22.4 | -30.3 | -38.6 | +43.4 | -8 |
| Advanced Nano Products | benef2 | +56.8 | +66.4 | +13.9 | -30.9 | +5.5 | -8.1 |
| Hyundai Steel Company | benef2 | +2.7 | -9.3 | -2 | -28.7 | +38.8 | -8.5 |
| LG Chem | benef2 | -29 | +9.7 | -36.6 | -45.3 | +31.2 | -8.6 |
| Tinci Materials | benef2 | +68.3 | +5.6 | -61.4 | -0.7 | +124.2 | -16.2 |
| POSCO Future M | benef2 | -17.7 | +97.6 | +16.3 | -43.6 | +56.5 | -17.8 |
| Ronbay Technology | benef2 | +96.6 | -39.1 | -63.6 | +12.3 | +47.7 | -20 |
| BYD Electronics | benef2 | -56.1 | +16 | -0.4 | +60.6 | -19.4 | -24.1 |
| Autodesk, Inc. | benef2 | -7.9 | -33.5 | +30.3 | +21.4 | +0.1 | -26.4 |
| Albemarle | benef2 | +59.8 | -6.6 | -32.8 | -39.5 | +67.7 | -27.8 |
| SKC | benef2 | +18.1 | -31.9 | -19.7 | +104.3 | -25.4 | -28 |
| SK IE Technology | benef2 | · | -41.9 | +11.1 | -69 | +18.9 | -32 |
| Chunbo | benef2 | +40.4 | -7.3 | -65 | -55.6 | +59.1 | -32.5 |
| Ganfeng Lithium | benef2 | +12 | -17.4 | -56.1 | +0.1 | +108.3 | -33.5 |
| Hyundai Wia | benef2 | -25.5 | -19.2 | +9 | -32.2 | +125.1 | -39.8 |
| PNT (People & Technology) | benef2 | +62.2 | +11.6 | -17.8 | +12.2 | +31.1 | -44.3 |
| EcoPro BM | benef2 | +79.2 | +23.9 | +113.5 | -38.6 | +77.1 | -54.3 |
| Enchem | benef2 | · | -37.4 | +173.9 | -20.5 | -26.1 | -79 |
YTD as of 2026-10-08 · source: Yahoo Finance
Hyundai Motor rose 158.8% in 2025, moving well ahead of Kia (+60.1%) and much of its parts and battery chain, then gave back 34.2% through October 8, 2026. Hyundai Wia fell 39.8% and Hyundai Rotem 54.2% over the same 2026 window, so the equity-linked group names corrected even more. The supply side stayed positive: Samsung Electronics +63.8%, onsemi +37.4% and SK Innovation (SK On) +23.5%. H1 2026 revenue grew 2.7% to KRW 95.154 trillion, but operating profit fell 25.8% to KRW 5.366 trillion, showing that tariff, material-cost and supply-disruption pressure on margins mattered more than demand. The 41.13% Hyundai Transys and 25.35% Hyundai Wia stakes tie the powertrain and parts chain into equity-accounted earnings. The lagging test is when hybrid growth and supplier strength reach automaker margin recovery. The thesis fails if Hyundai misses its 6.3% to 7.3% margin guidance despite revenue growth.
Analysis generated from returns as of 2026-10-08← All companiesMarkdown · JSON · Customers · Suppliers · Ripple