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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.
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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.
