During the 2026 FIFA World Cup Round of 16 match between Brazil and Norway at New Jersey Stadium in the U.S., Atlas, the humanoid robot created by Boston Dynamics, delighted the crowd with a friendly wave. Following this event, Hyundai Motor Group made headlines by taking full ownership of Boston Dynamics through the acquisition of a 9.65 percent stake previously held by SoftBank from Japan.
The strategic move is intended to boost Hyundai’s presence in the robotics industry and expedite its plans for Boston Dynamics’ anticipated initial public offering (IPO). Hyundai initially acquired an 80 percent stake in Boston Dynamics from SoftBank for around 1 trillion won ($674 million) in 2020. The recent agreement enabled SoftBank to exercise its put option to sell its remaining stake to Hyundai, thereby finalizing the ownership transfer.
Post-acquisition, HMG Global, a joint investment firm between Hyundai Motor, Kia, and Hyundai Mobis, now holds a 56.3 percent stake in Boston Dynamics. Executive Chair Chung Euisun owns 22.5 percent, and Hyundai Glovis possesses 11.25 percent. The terms of the deal were not disclosed, but estimations suggest the transaction is valued at approximately 500 billion won.
By strengthening its investment in Boston Dynamics, Hyundai aims to enhance its robotics strategy for long-term growth. The acquisition is anticipated to facilitate quicker decision-making and efficient business operations. Hyundai envisions collaboration with Boston Dynamics to reinforce their competitiveness in the robotics sector and drive synergies between the companies.
Notably, Boston Dynamics is renowned globally for its advancements in robotics and humanoid technologies, particularly for its humanoid robot, Atlas. Hyundai plans to incorporate Atlas into its operations at Hyundai Motor Group Metaplant America, utilizing the robot for tasks such as part sorting from 2028 and eventually expanding its role to include parts assembly by 2030.
While Boston Dynamics has been valued at up to 100 trillion won by securities firms, Hyundai’s acquisition could potentially yield significant returns, especially if Boston Dynamics goes public. The acquisition may simplify Hyundai’s future capital-raising endeavors and listing structures, streamlining its ownership landscape in preparation for potential IPO activities. Though an official IPO plan has not been announced, industry experts speculate that the listing could happen in 2028, as Hyundai seeks to capitalize on the synergies between the two companies.
In conclusion, Hyundai Motor Group’s acquisition of Boston Dynamics marks a strategic milestone in the evolution of both companies, paving the way for innovative collaborations and advancements in the field of robotics and automation.
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