Hyundai Motor to Acquire Shares Held by SoftBank, Achieving Full Ownership of Boston Dynamics

On July 16, Hyundai Motor Group announced that it would acquire approximately 10% of the shares held by SoftBank Group, making the American robotics company Boston Dynamics its wholly-owned subsidiary. Hyundai Group stated that this move would help implement advanced robotics technology across its entire business system.

After SoftBank decided to sell its shares, Hyundai mentioned that the shareholders are sorting out the related contractual rights and obligations. This acquisition aligns with Hyundai Motor Group's overall strategy: to fully own Boston Dynamics, this robotics R&D company, and to strengthen its own robotics technology capabilities.

Last month, Korea's National Business Daily reported that the consideration for SoftBank's 9.65% stake was 500 billion Korean won (approximately $335 million).

After achieving full control of Boston Dynamics, Hyundai aims to build a complete physical artificial intelligence robotics industry chain: integrating Boston Dynamics' physical AI technology advantages, the group’s vehicle manufacturing capabilities, mobility technology, and global supply chain system.

In its statement on July 16, Hyundai said: "Relying on integrated planning, the Group will accelerate the R&D, testing, validation, and commercialization of physical artificial intelligence technologies and robotic solutions."

The core product of this strategic deployment by Hyundai Motor Group is the humanoid robot Atlas, whose mass-production version made its official debut at the CES Consumer Electronics Show in January this year. Hyundai plans to deploy Atlas at its Georgia plant in 2028 and establish an annual production capacity of 30,000 humanoid robots. In the early stages, these robots will perform simple tasks such as welding and logistics, and gradually take on complex production processes like parts assembly before 2030. Atlas has already demonstrated its operational capabilities in multiple public presentations, and the factory implementation timeline is based on these demonstration results. The robot has been used to transport match balls at the World Cup stadium and can carry small refrigerators weighing up to 23 kilograms. Hyundai Motor Group had already acquired an 80% stake in Boston Dynamics back in 2021.