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Hyundai to buy SoftBank stake for full control of Boston Dynamics
The deal would value Boston Dynamics at about 5 trillion won based on the implied transaction price, and Hyundai plans to deploy its Atlas humanoid robot at a Georgia plant starting in 2028.
Hyundai Motor Group said it will make Boston Dynamics a wholly owned subsidiary by buying SoftBank Group’s stake of around 10%, a move it said is intended to help deploy advanced robotics across its operations, according to Reuters.
Hyundai also plans to begin deploying Atlas, Boston Dynamics’ humanoid robot, at a manufacturing plant in Georgia from 2028. It expects the robot to start with parts-sequencing tasks and expand its manufacturing role to include component assembly by 2030.
The acquisition is also landing amid labor unrest at Hyundai Motor in South Korea. The company’s labor union has escalated industrial action over annual wage negotiations, while raising concerns that greater use of robotics and artificial intelligence on assembly lines could replace workers.
Reuters reported that media last month pegged the transaction at about 500 billion won, and analysts said the purchase should clarify Boston Dynamics’ valuation. One analyst at Kiwoom Securities said the implied valuation is about 5 trillion won.