Hyundai Motor Co. Ltd. (OTC:HYMLF) will acquire SoftBank Group Corp.‘s (OTC:SFTBF) (OTC:SFTBY) remaining roughly 10% stake in Boston Dynamics, making the U.S. robotics company wholly owned as Hyundai prepares to deploy Atlas humanoids in automotive production.
Deal Gives Hyundai Greater Strategic Control
The automaker, in a press release on Thursday, said full ownership should give Hyundai greater flexibility over Boston Dynamics’ investments and strategy.
The companies did not disclose terms, although Reuters notes that South Korean media previously valued the transaction at about 500 billion won, or $335 million.
Hyundai acquired an 80% stake in Boston Dynamics in 2021. Group affiliates and Executive Chair Euisun Chung later raised their combined holding above 90%, leaving SoftBank with about 9.65%.
Atlas Moves Closer To Factory Work
Boston Dynamics began manufacturing the commercial Atlas model in January and scheduled initial deployments in 2026 with Hyundai and Google DeepMind. Hyundai plans to deploy the Atlas at a Georgia plant in 2028 for parts sequencing, then expand it into component assembly and other manufacturing work by 2030.
Boston Dynamics says Atlas can lift 110 pounds, operate between minus 4 and 104 degrees Fahrenheit and share tasks learned by one robot across a fleet. Kia has earlier outlined it plan to deploy the humanoid at a U.S. factory.
Labor And Valuation Concerns Shadow Expansion
The takeover comes amid labor tension in South Korea. Hyundai’s union staged partial strikes during wage talks and demanded bonuses equal to 30% of net income and stronger job guarantees. A union leader told Reuters that Hyundai and Kia "appear to be planning to replace human workers with new technologies."
The union expects about 2,000 of Hyundai’s 24,676 organized workers to retire annually through 2032. Without replacement hiring, membership could fall by nearly 10,000, or roughly 40%.
Kiwoom Securities analyst Shin Yoonchul told Reuters that the reported price implied a Boston Dynamics valuation of about 5 trillion won or $3.38 billion. Hyundai shares have fallen more than 30% since reports emerged last month, closing 2.1% lower on Thursday as the KOSPI dropped 6.4%.
The acquisition strengthens Hyundai’s position in the physical-AI market, expected to grow sharply, but also increases pressure to translate Boston Dynamics’ technical promise into measurable gains in factory productivity.
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