Hyundai acquires Boston Dynamics
Hyundai Motor Group has acquired Boston Dynamics from SoftBank.
Post-closing, the Group holds an 80 percent stake in Boston Dynamics and SoftBank, through one of its affiliates, retains the remaining 20 percent stake.
By acquiring Boston Dynamics and securing a presence in the field of robotics, the Group takes another major step toward its strategic transformation into a Smart Mobility Solution Provider. To propel this transformation, the Group has invested in the development of future technologies, including autonomous driving, artificial intelligence (AI), Urban Air Mobility (UAM), smart factories and robots.
The deal is also expected to allow the Group and Boston Dynamics to leverage each other's respective strengths in manufacturing, logistics, construction and automation.
Together, the Group and Boston Dynamics will create a robotics value chain, from robot component manufacturing to smart logistics solutions. Additionally, the Group will support Boston Dynamics' continued expansion of its product line and global sales and service footprint.
Boston Dynamics launched sales of its first commercial robot, Spot, in June of 2020 and now has hundreds of robots operating in a variety of industries, including power utilities, construction, manufacturing, oil and gas, and mining. The company also recently unveiled Stretch, its first commercial robot specifically designed for warehouse facilities and distribution centres.