Hyundai Motor Group is poised to assume complete ownership of Boston Dynamics, the renowned U.S. robotics innovator. This strategic move follows SoftBank’s exercise of a put option on its remaining 9.65 percent stake, marking a significant acceleration in the Korean auto giant’s ambitious push into advanced physical artificial intelligence and robotics development.
The confirmation came from Hyundai on Thursday, detailing SoftBank’s decision to exercise its option as part of a 2020 agreement. This pact enabled the Japanese technology investment firm to divest its common shares in the leading robotics company.
Currently, Boston Dynamics’ ownership is distributed among key Hyundai entities: Hyundai Motor holds 28 percent, Hyundai Motor Group Executive Chair Chung Euisun owns 22.6 percent, Kia possesses 17.2 percent, Hyundai Mobis has 11.3 percent, and Hyundai Glovis accounts for 11.25 percent. Upon the transaction’s completion, these Hyundai affiliates and Chairman Chung Euisun will jointly command 100 percent of Boston Dynamics, consolidating its future under the group’s vision.
The Hyundai Motor Group is actively reviewing the final purchase price and strategizing the precise allocation of SoftBank’s shares among its existing shareholders, ensuring a seamless integration.
This latest move builds upon Hyundai’s initial acquisition of an 80 percent controlling stake in Boston Dynamics from SoftBank in 2021, a deal valued at $880 million. Although SoftBank initially retained a 20 percent share, subsequent capital increases progressively diluted its ownership to less than 10 percent, paving the way for Hyundai’s full takeover.
A Hyundai Motor Group official emphasized the strategic importance, stating, “As an integral part of our long-term robotics strategy, we have consistently explored avenues to expand our investment in Boston Dynamics. Our commitment remains firm to strengthening the global competitiveness of our robotics business and unlocking greater synergies across the group.”
Achieving full ownership grants Hyundai unparalleled control over a cornerstone of its physical AI strategy. This consolidation will enable more streamlined coordination of cutting-edge robot development, efficient production processes, and strategic deployment, integrating robotics seamlessly into its extensive global manufacturing operations.
Looking ahead, the Hyundai Motor Group plans to strategically deploy Boston Dynamics’ advanced Atlas humanoid robots within its facilities. Initial implementation will commence with targeted tests on individual production processes at both Hyundai Motor Group Metaplant America and Kia’s manufacturing plant in Georgia.
The highly capable Atlas robot is slated to undertake parts-sequencing work starting in 2028. Following the establishment of its robust operational reliability, Atlas’s role is projected to significantly expand to encompass complex component assembly tasks from 2030 onwards, revolutionizing manufacturing workflows.
Boston Dynamics has also intensified its public demonstrations of the Atlas robot, showcasing its capabilities in high-profile settings. Most recently, at a FIFA World Cup match on July 5, the advanced humanoid robot impressively delivered the match ball during halftime and even mimicked goal celebrations, including those of renowned soccer players like Son Heung-min, highlighting its agility and sophisticated programming.
Hyundai’s ambitious vision includes establishing an annual production capacity of 30,000 robots by 2028. A substantial portion, 25,000 units, is earmarked for deployment across Hyundai Motor and Kia plants, demonstrating a strong internal commitment before extending supply to external customers.
Furthermore, the group is set to develop extensive production capacity for 350,000 actuators. These critical components serve as the sophisticated joints and muscles of robots, essential for their advanced movements and functionality.
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