Hyundai to Buy SoftBank’s Remaining Boston Dynamics Stake After Put Option Exercised

Hyundai Motor Group plans to acquire SoftBank Group's remaining 9.65 percent stake in Boston Dynamics Inc. after SoftBank decided to exercise its put option, Yonhap reported Thursday. -based robotics company from SoftBank for 1 trillion won (US$674 million) in 2021.

Its ownership has since risen to 90.35 percent. Hyundai Motor Group did not disclose the expected purchase price. It said it has been 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 said in a text message. The group said it is building an end-to-end AI robotics value chain that combines Boston Dynamics' expertise with the group's 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 said.

Hyundai Motor Group plans to deploy Atlas, Boston Dynamics' humanoid robot, at its Metaplant America facility beginning in 2028, initially for parts sequencing and later for component assembly by 2030. The acquisition is expected to pave the way for Boston Dynamics' initial public offering in the United States, industry sources told Yonhap.

Boston Dynamics is currently valued at more than 30 trillion won, up from about 1.24 trillion won at the time of the 2021 transaction.