Hyundai to buy SoftBank’s remaining Boston Dynamics Stake

Hyundai Motor Group plans to buy SoftBank’s remaining 9.65% stake in Boston Dynamics for $325 million. Hyundai’s board is expected to meet on June 22 to vote on the purchase. If completed, the acquisition would make Boston Dynamics a wholly owned Hyundai subsidiary.

The transaction arises from a put option included in Hyundai’s original agreement when it gained control of Boston Dynamics. Under that clause, SoftBank retained a minority stake but kept the right to sell its remaining shares back to Hyundai; SoftBank has notified Hyundai that it will exercise that option. Hyundai Motor Group and SoftBank have not issued official comments.

Executive Chair Euisun Chung, together with Hyundai Motor, Kia, Hyundai Mobis and Hyundai Glovis, currently own just over 90% of Boston Dynamics. Buying the remaining 9.65% would remove the last outside shareholder.

Hyundai first agreed in late 2020 to buy an 80% stake in Boston Dynamics in a deal that valued the company at $1.1 billion; the transaction closed in June 2021. Prior to Hyundai’s purchase, Boston Dynamics was owned by Google and then SoftBank.

Since 2021 Hyundai affiliates have taken part in additional funding rounds, diluting SoftBank’s holding from roughly 20% to below 10%. Hyundai has continued to provide capital as Boston Dynamics develops products and seeks commercial customers.

Boston Dynamics makes robots including Spot, a quadruped inspection platform; Stretch, a warehouse handling robot; and Atlas, a humanoid research platform. Company financial summaries show cumulative revenue of 390.7 billion won from 2022 through the third quarter of 2025 and cumulative losses of 1.38 trillion won over the same period.

At the time of the original arrangement, SoftBank chairman Masayoshi Son described Boston Dynamics as central to smart robotics and welcomed the partnership with Hyundai to accelerate commercialization. Hyundai has described its investment as a long-term industrial technology investment focused on humanoid and industrial robots for manufacturing and logistics.

If Hyundai’s board approves the purchase on June 22 and the transaction closes, Boston Dynamics would become a fully owned unit of Hyundai Motor Group, completing the consolidation that began when Hyundai gained control in 2021.