Hyundai Motor Group weighs buying SoftBank’s remaining Boston Dynamics stake

Hyundai Motor Group is reviewing plans to acquire SoftBank's remaining stake in Boston Dynamics after the Japanese investment company exercised its contractual right to sell the shares, the automaker said Thursday.

SoftBank recently exercised a put option granted under a 2020 agreement, under which Hyundai Motor Group acquired a controlling stake in Boston Dynamics.

The Korean carmaker's affiliates are now reviewing the acquisition in accordance with their internal procedures.

Hyundai Motor has a 28 percent stake in Boston Dynamics, followed by Hyundai Motor Group Executive Chair Euisun Chung with 22.6 percent, Kia with 17.2 percent, Hyundai Mobis with 11.3 percent, Hyundai Glovis with 11.25 percent and SoftBank with 9.65 percent.

The group added that it had been exploring ways to expand investment and cooperation with Boston Dynamics as part of its long-term robotics strategy, and increasing its stake in the company is expected to accelerate its robotics business plans.

BY LEE TAE-HEE [[email protected]]