Seoul: Hyundai Motor Group plans to acquire the remaining stake in Boston Dynamics Inc. after SoftBank Group decided to exercise its put option for its 9.65 percent stake in the U.S.-based robotics company, industry sources said Thursday. The South Korean automotive group initially acquired an 80 percent stake in Boston Dynamics from the Japanese technology investment company for 1 trillion won (US$674 million) in 2021. Its ownership has since increased to 90.35 percent, with SoftBank holding the remaining 9.65 percent.
According to Yonhap News Agency, the group did not disclose the expected purchase price but has been actively seeking opportunities to increase its ownership in Boston Dynamics as part of its long-term robotics strategy. "The contemplated transaction is expected to further support collaboration with Boston Dynamics in developing artificial intelligence (AI)-powered robotics technologies and related ecosystems," the group stated in a text message.
The group is building an end-to-end (E2E) AI robotics value chain by combining Boston Dynamics' expertise in AI robotics with its own manufacturing capabilities, mobility technologies, and global value chain. "Through this integrated approach, the company aims to accelerate the development, validation, and commercialization of physical AI technologies and robotics solutions," it added.
Plans are underway to deploy Atlas, Boston Dynamics' humanoid robot, at Hyundai Motor Group Metaplant America (HMGMA) beginning in 2028. Initially, Atlas will support parts sequencing before expanding to component assembly by 2030. The acquisition is also expected to pave the way for Boston Dynamics' initial public offering in the United States, according to sources familiar with the matter.
Boston Dynamics is currently valued at more than 30 trillion won, a significant increase from about 1.24 trillion won when Hyundai Motor Group acquired an 80 percent stake in the company in June 2021.