Hyundai takes full ownership of Boston Dynamics, eyes 30,000 Atlas humanoid robots by 2028

Hyundai reportedly looking to take total control of robotics giant Boston Dynamics - Engadget

It's planning to accelerate the commercialization of Boston Dynamics' Atlas humanoid robot, Bloomberg says. Hyundai is preparing to acquire Softbank's remaining stake on Boston Dynamics, according to Bloomberg. The Korean automaker purchased an 80 percent stake on the robotics company back in 2020, while Softbank retained a 20 percent stake. Hyundai is now reportedly reviewing its contractual rights and obligations before snapping up Softbank's remaining 9.9 percent stake valued roughly at $325 million. If the deal pushes through, Hyundai will have full ownership of Boston Dynamics. As Bloomberg notes, the acquisition could be a massive windfall for Hyundai, as companies move towards the development of physical AI products. If and when it gets full control of Boston Dynamics, Hyundai intends to build an end-to-end AI robotics chain. "Through this integrated approach, the group aims to accelerate the development, validation and commercialization of Physical AI technologies and robotics solutions," Hyundai told Bloomberg in a statement. The company's plans center around Boston Dynamics' Atlas humanoid robot. At CES earlier this year, the robotics firm presented a production-ready version of the machine after years of testing it and even forcing it to dance in its videos. More recently, Atlas made an appearance at the FIFA World Cup, walking down the player tunnel and handing over the match ball to a referee. Hyundai is building and continuing the development of Atlas with NVIDIA and Google DeepMind as its partners. It's hoping to start producing Atlas at its plant in Georgia sometime in 2028 and to eventually manufacture as many as 30,000 humanoid machines every year. To start with, Atlas robots will take on simple tasks, such as logistics and welding, but Boston Dynamics expects them to be used for more complex manufacturing and component assembly processes by 2030.

Hyundai buys SoftBank's Boston Dynamics stake for $325 million

Hyundai Motor Group announced on Thursday that it will acquire SoftBank Group's remaining approximately 10% stake in Boston Dynamics, making the robotics company a wholly owned subsidiary. The transaction is valued at roughly $325 million, according to Bloomberg. The transaction follows SoftBank's decision to trigger 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 puts Boston Dynamics' worth at approximately $3.3 billion, consistent with what Hyundai paid when it took an 80% controlling interest from SoftBank in 2021. Hyundai said taking full ownership positions it to construct 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 push is Boston Dynamics' Atlas humanoid robot. Hyundai is targeting 2028 for Atlas's first factory deployment in Georgia, aiming to scale manufacturing capacity to as many as 30,000 units per year. Atlas will initially take on jobs such as welding and materials handling, with the scope broadening to include component assembly operations by 2030, the company said. Hyundai has partnerships with Nvidia $NVDA Corp. and Google $GOOGL DeepMind to develop Atlas, according to Bloomberg. Hyundai Motor stock closed down 2.1% on Thursday. Analysts noted that investors had been looking to the buyout of SoftBank's residual holding to shed light on what Boston Dynamics is worth and perhaps lift Hyundai's share price. Kiwoom Securities analyst Shin Yoonchul calculated that the deal terms put Boston Dynamics' worth at roughly 5 trillion won, adding that the stock's subdued response reflected investor skepticism about whether that figure holds up. Hyundai's acquisition comes as its South Korean labor union has intensified industrial action over annual wage negotiations. The union staged two-hour partial strikes from Monday through Wednesday and announced plans for four-hour strikes from July 20 to July 22, the company said. Workers are pushing for a bonus pool equal to 30% of net profit and want written assurances that their jobs will be protected as Hyundai brings more robots onto its production lines. Earlier this year, Hyundai showcased Atlas performing soccer skills as part of a campaign tied to its FIFA World Cup 2026 sponsorship, with the robot also appearing at tournament venues. Hyundai said it plans to train Atlas at its Robot Metaplant Application Center in Savannah, Georgia, before deploying it in industrial environments.

Hyundai to take full ownership of Boston Dynamics

Media reports suggest that Hyundai is to deploy Boston Dynamics' Atlas humanoid robots at its factories in the US. Hyundai Motor Group is to gain full control of Boston Dynamics by acquiring SoftBank's stake in the US robotics company, according to various media reports. Although terms of the deal have not been disclosed, Reuters reported that it would cost Hyundai around 500 billion won ($335m) for the Japanese investment company's holdings of between 9pc and 10pc in Boston Dynamics. Meanwhile, Bloomberg reported that the deal would be worth around $325m, with Hyundai paying a "locked-in price" at a much lower valuation - around $3.3bn - than what the company is likely worth in 2026 - between $20bn and $100bn. On completion of the deal, Hyundai and affiliates will fully own the US robotics company, having previously acquired around 80pc of shares in 2021 for $880m. The move could help Hyundai to build an end-to-end AI robotics process by combining Boston Dynamics' physical AI capabilities with the larger group's capacity in manufacturing, mobility technologies and supply chain access. Korean media reported that a Hyundai Motor Group official said: "As part of our long-term robotics strategy, we have been reviewing ways to expand our investment in Boston Dynamics. We will continue to strengthen the competitiveness of our robotics business and pursue greater synergies." Reports suggested that Hyundai is to deploy Boston Dynamics' Atlas humanoid robots at various of its factories in the US. Atlas is scheduled to begin parts-sequencing work in 2028, with its role expanding to component assembly from 2030 once the robot's operational reliability has been established, according to the Korea Herald. Hyundai aims to build annual production capacity for 30,000 robots by 2028 and deploy 25,000 units at Hyundai Motor and Kia plants before supplying outside customers, according to the publication. In May, social media and tech giant Meta acquired US start-up Assured Robot Intelligence in aid of its plans to build humanoid technology. Its Big Tech rival Amazon, in March, cut a small number of jobs in its own robotics division. Don't miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic's digest of need-to-know sci-tech news.

Hyundai Motor chief to raise Boston Dynamics stake, fueling Nasdaq IPO prospect - The Korea Times

Boston Dynamics' Altas humanoid robot / Courtesy of Hyundai Motor Group Hyundai Motor Group Executive Chair Chung Euisun is set to increase his personal stake in Boston Dynamics to 25 percent by investing an additional 120 billion won ($80.5 million), a move that could accelerate the robotics firm's long-anticipated Nasdaq listing. Chung and other Boston Dynamics shareholders are considering acquiring the 9.65 percent stake held by SoftBank, after the Japanese investment firm exercised its put option. The shares would be divided among the existing shareholders in proportion to their current holdings. Under the current ownership structure, HMG Global owns 56.4 percent of Boston Dynamics, while Chung holds 22.6 percent, Hyundai Glovis owns 11.25 percent and SoftBank retains the remaining 9.65 percent. If the transaction is completed, HMG Global's stake would rise to 62.5 percent, Chung's to 25 percent and Hyundai Glovis' to 12.5 percent, effectively giving Hyundai Motor Group full ownership of the robotics company. Chung has consistently expanded his personal investment in Boston Dynamics since Hyundai Motor Group acquired a controlling stake in the company from SoftBank in 2021. At the time, he invested 238.9 billion won and has since participated in several capital increases. The latest move is expected to strengthen Chung's push into physical artificial intelligence (AI), a sector the group has identified as a key future growth engine combining AI with robotics and autonomous machines operating in the real world. Boston Dynamics is at the center of Hyundai Motor Group's robotics strategy, led by its next-generation humanoid robot, Atlas. The company plans to deploy Atlas at Hyundai Motor Group Metaplant America in Georgia to validate manufacturing processes. The robot is scheduled to begin parts sequencing tasks in 2028 before expanding to component assembly operations from 2030. Chung has repeatedly underscored the strategic value of physical AI. In his New Year's address earlier this year, he said the group's expertise in automobiles, robotics and manufacturing data would become an increasingly scarce competitive advantage as the AI industry shifts toward physical intelligence. "As the focus of AI moves toward physical AI, the value of Hyundai Motor Group's moving platforms, including automobiles and robots, as well as its manufacturing process data, will become even more distinctive," Chung said at the time. "This is a powerful competitive advantage that global technology companies cannot easily replicate." Market observers also believe that securing full ownership of Boston Dynamics could pave the way for the robotics firm's initial public offering. Boston Dynamics is valued at around 30 trillion won on the market, but the figure is forecast to surge to more than 100 trillion won after its possible Nasdaq listing. The market expects the company to go public sometime around 2028 when the deployment of its Atlas robots will be in full swing.

Hyundai to buy SoftBank's Boston Dynamics stake, doubles down on humanoid robots By Investing.com

Investing.com -- Hyundai Motor (KS:005380) said on Thursday it will acquire SoftBank Group's (TYO:9984) remaining stake in Boston Dynamics, taking full ownership of the robotics company as it pushes to commercialize humanoid robots and expand its artificial intelligence capabilities. The South Korean automaker said SoftBank had exercised its contractual put option and that Hyundai and its affiliates are reviewing the related rights and obligations. The move is part of Hyundai's broader strategy to strengthen its robotics business after acquiring a controlling stake in Boston Dynamics in 2021. Financial terms were not disclosed. South Korea's Maeil Business Newspaper reported last month that SoftBank's remaining 9.65% stake is valued at about $325 million. Save 60% on InvestingPro for premium analyst ratings, AI stock picks and market insights Hyundai said full ownership of Boston Dynamics will help accelerate the development and commercialization of Physical AI, combining the robotics firm's expertise with Hyundai's manufacturing capabilities, mobility technologies and global production network. The centerpiece of the strategy is Atlas, Boston Dynamics' next-generation humanoid robot. Hyundai unveiled a production-ready version of the robot earlier this year and plans to deploy Atlas at its electric vehicle plant in Georgia beginning in 2028. The company aims to build annual production capacity of up to 30,000 humanoid robots, with the machines initially handling tasks such as logistics and welding before taking on more advanced manufacturing work, including component assembly, by 2030. Hyundai Motor shares fell 3.6% in Seoul trading, outperforming the broader KOSPI, which dropped 5.8% amid a broad selloff in technology stocks. SoftBank shares were little changed, down 0.1%, compared with a 2.3% decline in Japan's benchmark Nikkei 225 index. Hyundai has increasingly positioned robotics as a key pillar of its long-term growth strategy, alongside electric vehicles, autonomous driving and software-defined mobility, as manufacturers race to integrate AI-powered automation into factory operations.

Hyundai to Buy SoftBank's Stake in Boston Dynamics

Hyundai Motor Group plans to acquire SoftBank's remaining stake in Boston Dynamics, as it deepens its push into physical artificial intelligence and robotics. "The contemplated transaction is expected to further support collaboration across Hyundai Motor Group's robotics-related businesses and enhance the Group's ability to execute its long-term robotics strategy," the South Korean auto group said Thursday. The relevant shareholders are reviewing matters after SoftBank's notice of the exercise of its put option, Hyundai said. Financial terms of the deal weren't disclosed. In 2021, Hyundai acquired a controlling stake in Boston Dynamics from SoftBank in a deal that valued the robotics company at $1.1 billion at the time. The South Korean company is building an end-to-end AI robotics value chain combining Boston Dynamics' expertise with the group's manufacturing capabilities, mobility technologies and global supply chain, it said. Hyundai plans to begin deploying Boston Dynamics' Atlas ?humanoid robot at a car manufacturing plant in Georgia in 2028. The Atlas robot will initially ?handle parts ?sequencing ?tasks at the plant, and is expected to support a broader range of ?manufacturing ?processes, including component assembly, by 2030, it said. The planned stake acquisition comes as Hyundai auto workers in South Korea staged a partial strike this week, worried about their job prospects. The labor action is the car industry's first factory stoppage addressing humanoid robots. Formal negotiations between Hyundai and the union kicked off in May. The union requested a shift from hourly pay to a fixed salary for production workers to guard against a potential reduction in work hours brought on by automation. They have also asked for much bigger bonuses, tied to an AI boom that has brought greater riches to Hyundai and South Korea.

Hyundai Motor Group to own Boston Dynamics in full with SoftBank stake buy

SEOUL, July 16 (Reuters) - Hyundai Motor Group on Thursday disclosed that it would make U.S. robotics company Boston Dynamics a wholly owned subsidiary by acquiring SoftBank Group's stake of around 10%, a move it said would help it deploy advanced robotics across its operations. Terms of the deal were not disclosed. Local media reported last month that the transaction would likely be worth about 500 billion won ($335 million). The deal is expected to give Hyundai Motor Group greater strategic flexibility to manage Boston Dynamics, allowing the automaker to make long-term decisions on investments, business strategy and a potential initial public offering. ROBOTICS PUSH MEETS LABOUR TENSIONS Hyundai plans to begin deploying Atlas, Boston Dynamics' humanoid robot, at a manufacturing plant in Georgia from 2028. The robot will initially handle parts-sequencing tasks, with its role likely to be expanded to a broader range of manufacturing processes, including component assembly by 2030. The acquisition also comes as Hyundai Motor's South Korean labour union has intensified industrial action over annual wage negotiations, after staging two-hour partial strikes from Monday through Wednesday and unveiling plans for four-hour strikes from July 20 to July 22, according to Yonhap News Agency. The union has demanded that the company set aside 30% of its net income for bonuses and to guarantee job security, raising concerns over the growing adoption of robotics and artificial intelligence on assembly lines. The world's third-largest carmaker - together with affiliate Kia Corp, which is also developing humanoid robots - appears to be planning to replace human workers with new technologies, a union leader said. Around 2,000 of Hyundai's 24,676 unionised workers are expected to retire every year on average by 2032, according to the union. If the company does not hire new workers, the union membership would fall by nearly 10,000, or about 40% of the current workforce by 2032, the union said. Hyundai acquired an 80% stake in Boston Dynamics in 2021. MARKET FOCUSES ON VALUATION Thursday's announcement appeared to have little immediate impact on Hyundai Motor shares, with investors instead focusing on what the transaction implied about Boston Dynamics' valuation. Analysts said investors had expected the purchase of SoftBank's remaining stake to provide greater clarity on Boston Dynamics' valuation and potentially act as a catalyst for the automaker's shares. Shin Yoonchul, an analyst at Kiwoom Securities, said the transaction price implied a valuation of about 5 trillion won for Boston Dynamics. The financial terms of the deal were not disclosed. Shin said the muted market reaction suggested investors were questioning whether the valuation previously assigned to the robotics company was justified, rather than viewing the deal as Hyundai Motor Group buying SoftBank's stake at a discount. He said Hyundai's shares might have responded more positively had the company exercised its call option, which becomes exercisable on July 21, at a higher strike price, as that would have implied a higher valuation for Boston Dynamics. Instead, the deal removed what investors had viewed as a near-term catalyst for a re-rating of the robotics company's valuation. Hyundai Motor shares have fallen more than 30% since local media first reported last month that the automaker planned to buy SoftBank's remaining stake in Boston Dynamics. On Thursday, Hyundai Motor shares closed down 2.1%, compared with a 6.4% decline for the benchmark KOSPI. ($1 = 1,484.8000 won) (Reporting by Heekyong Yang and Heejin Kim; Editing by Edwina Gibbs and Thomas Derpinghaus) By Heekyong Yang and Heejin Kim