The company aims to bolster its robotics division and prepare for a future IPO
Category: Business
Hyundai Motor Group is set to acquire the remaining 9.65% stake in Boston Dynamics from SoftBank Group for approximately $325 million (around 500 billion KRW), thereby securing 100% ownership of the robotics company. This move is part of Hyundai's broader strategy to strengthen its position in the rapidly growing physical AI market and streamline its corporate governance.
On June 19, 2026, industry sources indicated that Hyundai's key affiliates, including Hyundai Motor, Kia, and Hyundai Mobis, would soon convene a board meeting to discuss the acquisition of SoftBank's stake in Boston Dynamics. The deal is expected to finalize shortly after the board's approval on June 22. Currently, the ownership structure of Boston Dynamics is divided as follows: Hyundai Motor holds 28%, Kia 17.2%, Hyundai Mobis 11.3%, Hyundai Glovis 11.25%, and Chairman Chung Eui-sun has a 22.6% share, with SoftBank holding the remaining 9.65%.
This acquisition is rooted in a contractual agreement made in 2021 when Hyundai first purchased a majority stake in Boston Dynamics. The agreement included a put option allowing SoftBank to sell its remaining shares if an IPO did not occur within a specified timeframe. The put option can be exercised between June 21 and 30, 2026, after which Hyundai can opt to purchase the shares.
The acquisition will eliminate potential conflicts among minority shareholders, allowing Hyundai to fully integrate Boston Dynamics into its operations as a core manufacturing component rather than merely a venture investment. This strategic move is also seen as a step toward enhancing Hyundai's competitiveness in the robotics sector, particularly as the company prepares for the commercial rollout of its humanoid robot, Atlas, which is scheduled for mass production by 2028. The growing demand for robotics solutions in various industries positions Boston Dynamics as a key player in the market.
Boston Dynamics' current valuation exceeds 30 trillion KRW, a remarkable increase from the $1.1 billion (approximately 1.2 trillion KRW) valuation at the time of Hyundai's initial investment. Analysts predict that the company's value could soar to over 100 trillion KRW by the time of its anticipated IPO, likely in 2027 or 2028. This increase in value could provide Chairman Chung with over 20 trillion KRW in funds, which would be instrumental in addressing succession planning and the group's complex circular ownership structure.
This acquisition solidifies Hyundai's control over Boston Dynamics and enhances its capabilities in the robotics market, positioning the company for future growth as it navigates the intricacies of corporate governance and succession planning. The robotics market, particularly in the field of humanoid robots, is rapidly advancing, and Hyundai's investment in Boston Dynamics reflects a commitment to being at the forefront of this technological evolution.
As the industry anticipates the deployment of Atlas in Hyundai's manufacturing facilities, the implications for labor dynamics and operational efficiency are vast. The integration of advanced robotics into production lines could redefine traditional manufacturing processes, allowing human workers to focus on more complex tasks. This shift enhances productivity and raises questions about the future of work in an increasingly automated world.
In the coming years, as the market evolves, Hyundai's strategic decisions surrounding Boston Dynamics will be closely monitored. The potential for an IPO and the subsequent financial maneuvers will be key factors in determining the success of this ambitious venture. As the company prepares for the next steps, including the anticipated launch of Atlas and its implications for the industry, the spotlight will remain on how Hyundai navigates the challenges and opportunities presented by this rapidly changing technological frontier.