Hyundai Motor Group has pumped in US$1.1 billion for a majority stake in mobile robot maker Boston Dynamics with a SoftBank affiliate retaining the remaining 20 percent share.
The acquisition will take Hyundai toward being a smart mobility solution provider. It builds on other investments in the development of future technologies such as advanced materials, artificial intelligence, autonomous driving technology, connectivity, eco-friendly vehicles, robots, and smart factories.
Boston Dynamics develops agile, mobile robots that have been integrated into various business operations, letting Hyundai and Boston Dynamics leverage each other’s strengths in manufacturing, logistics, construction, and automation.
“The synergies created by our union offer exciting new pathways for our companies to realise 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 of aging society and digital transformation,” said Euisun Chung, Chairman of Hyundai Motor Group.
“We and Hyundai share a view of the transformational power of mobility and look forward to working together to accelerate our plans to enable the world with cutting edge automation, and to continue to solve the world’s hardest robotics challenges for our customers,” said Robert Playter, CEO of Boston Dynamics.