Hyundai Motor Group is moving to acquire the 9.9% stake in Boston Dynamics held by SoftBank. The plan is to secure full ownership of Boston Dynamics, transforming it into a wholly-owned subsidiary to bolster its robotics business.
On July 16, Hyundai Motor Group announced that SoftBank recently exercised a put option on its Boston Dynamics shares, as per a contract established in 2020.
As a result, Hyundai Motor Group's affiliated shareholders are now reviewing acquisition options following the obligation to purchase the shares.
Currently, the ownership of Boston Dynamics is divided as follows: HMG Global (Hyundai Motor, Kia, Hyundai Mobis) holds 56.3%, Euisun Chung, chairman of Hyundai Motor Group, owns 22.5%, Hyundai Glovis has 11.3%, and SoftBank retains 9.9%. Once Hyundai Motor Group completes the acquisition of SoftBank's stake, it will achieve 100% ownership.
Hyundai Motor Group stated, "This acquisition initiative will further strengthen our collaboration with Boston Dynamics and is expected to enhance decision-making and business execution speed significantly."
In 2021, Hyundai Motor Group entered the robotics sector by acquiring 80% of Boston Dynamics, which was valued at $1.1 billion at the time. Since then, the company has focused on expanding its physical artificial intelligence (AI) business, leveraging the four-legged robot 'Spot' and the humanoid robot 'Atlas' in manufacturing settings.
Hyundai Motor Group plans to deploy Atlas at its Meta Plant America (HMGMA) in the U.S. to conduct process validation. Starting in 2028, Atlas will be used for sorting parts, verifying operational reliability, and will expand its application to the assembly process by 2030.
* This article has been translated by AI.
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