Hyundai Motor to acquire mobile robot maker Boston Dynamics

December 11, 2020 // By Rich Pell
Hyundai Motor acquires majority stake in robot maker Boston Dynamics
Global automotive group Hyundai Motor Group and multinational conglomerate holding company SoftBank Group have announced that Hyundai Motor Group will acquire a controlling interest in engineering and robotics design company Boston Dynamics in a deal that values the mobile robot firm at $1.1 billion.

With a goal of advancing robotics and mobility to realize progress for humanity, the deal, say the companies, combines the highly complementary technologies of Hyundai Motor Group and Boston Dynamics, and the continued partnership of SoftBank Group, and will propel development and commercialization of advanced robots. The robotics technologies will lend synergies to autonomous vehicles, urban air mobility (UAM), and smart factories.

By establishing a leading presence in the field of robotics, the acquisition will further Hyundai Motor Group's strategic transformation into a smart mobility solution provider. To propel this transformation, says the company, it has invested substantially in development of future technologies, including in fields such as autonomous driving technology, connectivity, eco-friendly vehicles, smart factories, advanced materials, artificial intelligence (AI), and robots.

The investment in Boston Dynamics furthers Hyundai's portfolio of technology that addresses opportunities for both service robots and logistics robots. Over time, says the company, it plans to expand its presence into the humanoid robot market with the aim of developing humanoid robots for sophisticated services such as caregiving for patients at hospitals.

Advanced robotics offer opportunities for rapid growth, and Boston Dynamics is the established leader in developing agile, mobile robots that have been successfully integrated into various business operations. The deal is also expected to allow Hyundai Motor Group and Boston Dynamics to leverage each other's respective strengths in manufacturing, logistics, construction, and automation.

"We are delighted to have Boston Dynamics, a world leader in mobile robots, join the Hyundai team," says Euisun Chung, Chairman of Hyundai Motor Group. "This transaction will unite capabilities of Hyundai Motor Group and Boston Dynamics to spearhead innovation in future mobility. The synergies created by our union offer exciting new pathways for our companies to realize our goal - providing free and safe movement and higher plane of life experiences for humanity. We will also contribute to the society by enhancing its safety, security, public health amid global trends

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