Hyundai Acquires Robotics Company Boston Dynamics
Hyundai Motor Group has acquired a controlling stake in leading robotics firm Boston Dynamics.
In the deal valued at US $1.1 billion (AU$1.5b), Hyundai now holds an 80 per cent stake in the company, with the remaining 20 per cent being retained through one of Softbank’s affiliates.
Boston Dynamics is an established leader in developing agile, mobile robots that have been successfully integrated into the business operations of many of the world’s leading industrial firms.
Most well-known for its dog-like robot “Spot” (shown below) launched in June 2020, Boston Dynamics now has hundreds of robots operating in a variety of industries, including power utilities, construction, manufacturing, oil and gas, and mining.
By acquiring the company, Hyundai aims to become a Smart Mobility Solution Provider and secure a leading presence in the field of robotics. Specifically, autonomous driving, artificial intelligence, urban air mobility, smart factories, and robots.
“The deal is also expected to allow [Hyundai] and Boston Dynamics to leverage each other’s respective strengths in manufacturing, logistics, construction and automation…. The Group and Boston Dynamics will create a robotics value chain, from robot component manufacturing to smart logics solutions,” the company writes.
“Additionally, the Group will support Boston Dynamics’ continued expansion of its product line and global sales and service footprint.”
VIDEO: Boston Dynamics | Spot Launch
24 June 2021