Hyundai Motor Group Moves to Take Full Ownership of Boston Dynamics
Hyundai Motor Group is reportedly moving to acquire SoftBank Group's remaining roughly 9.65% stake (or a related 5% call option) in Boston Dynamics, bringing its ownership to 100%. With SoftBank's option exercise deadline approaching, Hyundai's board is expected to finalize the decision, adding to the stake already held by Chairman Euisun Chung and Hyundai Glovis through HMG Global.
The move stems from an original deal provision allowing SoftBank to sell its stake if Boston Dynamics failed to go public by a set deadline, with the exercise price fixed at the time of the original 2020 transaction — reportedly well below current valuations. As market estimates of Boston Dynamics' worth range from tens of trillions of won to over 100 trillion won, the deal is seen as a bargain acquisition of the remaining stake.
Panelists welcomed the move as strengthening Hyundai's control over a key robotics asset ahead of a potential IPO, allowing the group to capture future value appreciation rather than ceding it to SoftBank. They also framed it as an opportunity for Hyundai to expand its global footprint beyond automaking into the broader robotics ecosystem.