Hyundai Motor Group is set to finalize its acquisition of Boston Dynamics, obtaining full control of the U.S. robotics company for approximately $338 million. This move comes as SoftBank exercises a put option to sell its remaining 9.65% stake in Boston Dynamics.
Hyundai originally invested in Boston Dynamics back in 2020, purchasing an 80% stake for around $674 million. Over the years, Hyundai's ownership has grown to about 90.35% due to capital increases and additional investments.
The agreement that facilitated this latest transaction included a clause allowing SoftBank to force the sale of its remaining shares if Boston Dynamics was not listed in the United States. As this clause is due to expire on July 20, SoftBank opted to complete the sale now.
Focus on Atlas Robot
One of the key elements in the acquisition is the Atlas humanoid robot, Boston Dynamics' flagship product. Hyundai intends to integrate Atlas robots into its production processes, specifically at its upcoming Metaplant America facility in Georgia, set to become operational in 2028. The robots will initially assist with parts sequencing and heavy lifting, with plans to advance to component assembly tasks by 2030.
Strategic Growth in Robotics
Hyundai recognizes this acquisition as a significant step towards expanding its robotics strategy. The company believes that possessing complete control over Boston Dynamics will bolster decision-making speed and enhance operational execution within its automotive manufacturing.
With the acquisition of Boston Dynamics, Hyundai is looking to further its ambitions in automation, positioning itself at the forefront of the evolving landscape of robotics within the automotive sector.
This material is for informational purposes only and should not be considered financial advice.
