Hyundai Plans Full Takeover of Boston Dynamics
Hyundai Motor plans to acquire SoftBank Group’s remaining stake in Boston Dynamics, which would turn the robotics company into a wholly owned Hyundai subsidiary.
According to South Korea’s Maeil Business Newspaper, Hyundai will pay $325 million for SoftBank’s remaining 9.65% stake. The report cited unnamed sources familiar with the transaction.
Hyundai Already Controls More Than 90%
Hyundai and its affiliated companies already own more than 90% of Boston Dynamics. The ownership group includes Hyundai Motor Group Executive Chair Euisun Chung, Kia, Hyundai Mobis and Hyundai Glovis.
SoftBank recently informed Hyundai that it intended to exercise its right to sell the remaining shares. Hyundai subsequently agreed to purchase the stake, according to the report.
Hyundai originally acquired a controlling interest in Boston Dynamics in late 2020.
Robotics and AI Become Key Priorities
The planned acquisition highlights Hyundai’s growing focus on robotics and artificial intelligence.
Over the past year, the automaker has increased its investment in advanced technology and expanded its robotics strategy. Hyundai has also worked with Nvidia on several initiatives involving AI and future mobility technologies.
Taking full ownership of Boston Dynamics could give Hyundai greater control over the robotics company’s development and support the group’s broader technology ambitions.
