Hyundai Motor Seeks Full Ownership of Boston Dynamics

Hyundai Motor is seeking to acquire full ownership of Boston Dynamics by purchasing the remaining 20 percent of the robotics company. The South Korean automaker initially acquired an 80 percent stake in Boston Dynamics in a 2020 deal.

The company announced Tuesday that it has submitted a bid that would see it acquire the rest of the shares. The move aims to further integrate Boston Dynamics' advanced robotics technology into Hyundai Motor's future business strategies, particularly in automation and mobility solutions.

Boston Dynamics is renowned for its advanced robots, including the four-legged Spot robot and the human-like Atlas robot. The company's technology has found applications in industries such as manufacturing, logistics, and security.

Both companies have confirmed the ongoing discussions. The transaction is expected to be finalized as soon as possible, potentially by the end of 2023, subject to regulatory approvals and other closing conditions. This acquisition would solidify Hyundai's position in the robotics and automation sector.