Hyundai Motor Plans to Acquire SoftBank Group Stake in Boston Dynamics

MT Newswires Live07-16 16:50

Hyundai Motor (KRX:005380) said it plans to acquire SoftBank Group's (TYO:9984) entire 9.65% stake in the robotics company Boston Dynamics after the Japanese investment company exercised its put option, according to a Thursday release.

Hyundai Motor, including Hyundai Motor Group Executive Chair Euisun Chung; Kia; Hyundai Mobis; and Hyundai Glovis, holds over 90% in Boston Dynamics.

The Korean automaker said that the "relevant" shareholders are currently reviewing the deal through their internal approval processes, and the acquisition will be part of its long-term robotics strategy.

The company Hyundai Motor Group said it is building an end-to-end AI robotics value chain by combining Boston Dynamics' robotics expertise with its manufacturing capabilities, mobility technologies, and global supply chains.

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