Hyundai Motor Group is acquiring SoftBank Group's remaining approximately 9.65% stake in Boston Dynamics for roughly $325 million, making the robotics company a wholly owned subsidiary2,4.
The transaction was triggered by a put option embedded in the 2021 acquisition agreement, which gave SoftBank the right to sell its stake if Boston Dynamics remained privately held through this year. Hyundai secured a matching call option in 2025. The predetermined purchase price implies a valuation of approximately $3.3 billion for Boston Dynamics, consistent with what Hyundai paid when it acquired an 80% controlling interest from SoftBank in 2021.
Hyundai said taking full ownership positions it to build an integrated AI robotics ecosystem that draws on Boston Dynamics' physical AI expertise alongside the group's factory operations, mobility platforms, and worldwide supply network. "Through this integrated approach, the group aims to accelerate the development, validation and commercialization of Physical AI technologies and robotics solutions," Hyundai said in a statement.
The centerpiece of the strategy is Boston Dynamics' Atlas humanoid robot. Hyundai is targeting 2028 for Atlas's first factory deployment at its Georgia EV plant. Atlas will initially handle parts-sequencing tasks and logistics before progressing to welding and component assembly by 2030. Hyundai plans to train Atlas at its Robot Metaplant Application Center in Savannah, Georgia, before deploying it in industrial environments. The company is targeting annual production capacity of 30,000 humanoid robots and plans to deploy more than 25,000 of those units across Hyundai and Kia factories.
Hyundai has partnerships with Nvidia Corp. and Google DeepMind to develop Atlas, according to Bloomberg. Earlier this year, Hyundai showcased Atlas performing soccer skills as part of a campaign tied to its FIFA World Cup 2026 sponsorship.
The deal also provides Hyundai greater strategic flexibility to manage Boston Dynamics, including the possibility of a future IPO5.
For SoftBank, the exit marks a full departure from Boston Dynamics five years after ceding control. SoftBank is reportedly preparing Roze AI, a new publicly listed company combining robotics, AI infrastructure, and data center assets.
Kiwoom Securities analyst Shin Yoonchul calculated that the deal terms put Boston Dynamics' worth at roughly 5 trillion won. Hyundai Motor shares closed down 2.1% on Thursday, while the benchmark KOSPI fell 6.4%. Hyundai's shares had already fallen more than 30% after local media first reported last month that the automaker planned to buy SoftBank's remaining stake.
Hyundai's South Korean labor union staged two-hour partial strikes from Monday through Wednesday, with plans for four-hour strikes from July 20 to July 22. Workers are pushing for a bonus pool equal to 30% of net profit and written assurances that their jobs will be protected as Hyundai brings more robots onto its production lines.
ANALYSIS Full ownership eliminates the governance constraints that come with a minority shareholder and gives Hyundai unilateral control over commercialization timelines, IP strategy, and potential capital-markets decisions for Boston Dynamics. The labor unrest underscores a tension between Hyundai's robotics deployment ambitions and workforce concerns about automation displacing human roles on production lines.