Hyundai Motor Group to acquire remaining Boston Dynamics stake from SoftBank

Atlas humanoid robot to test at Georgia plant in 2028

Hyundai Motor Group said Thursday it will acquire SoftBank Group’s remaining stake in Boston Dynamics, a move the group expects to speed up decision-making and the execution of its physical artificial intelligence strategy as it expands into manufacturing automation.

The transaction follows SoftBank’s exercise this month of a put option included in the companies’ 2020 agreement, which gives the Japanese technology investor the right to require existing shareholders to purchase its common shares. Hyundai said it has begun reviewing the acquisition process, purchase price and the proportion of shares to be acquired by each existing shareholder.

SoftBank retained a 20% interest in Boston Dynamics when Hyundai acquired a controlling stake in the U.S. robotics company in 2021. The Japanese group’s ownership has since fallen to less than 10% through subsequent capital increases, according to people familiar with the matter.

Hyundai expects the acquisition to accelerate strategic decisions and business operations at Boston Dynamics as the group expands its physical AI and robotics businesses.

Hyundai plans to deploy Boston Dynamics’ Atlas humanoid robot at Hyundai Motor Group Metaplant America, its manufacturing complex in Georgia, to test the robot in individual production processes. Boston Dynamics has described Atlas as an industrial humanoid designed for manufacturing work.

The group plans to begin using Atlas in 2028 for sequencing operations, in which parts are sorted and arranged in the order needed on an assembly line. The deployment will allow Hyundai to assess the robot’s reliability and performance in a working factory. Hyundai plans to expand Atlas’ responsibilities to parts assembly beginning in 2030.

“Hyundai Motor Group has been considering ways to expand investment and cooperation with Boston Dynamics as part of its long-term robotics strategy,” the group said.

“Hyundai Motor Group and Boston Dynamics will continue strengthening the competitiveness of their robotics business and pursuing further synergies,” it said.