Hyundai Motor Group, Boston Dynamics, Inc. and SoftBank Group Corp. have announced the completion of the Hyundai’s acquisition of a controlling interest in Boston Dynamics from SoftBank, following regulatory approvals. The deal valued the mobile robot firm at $1.1 billion. Hyundai now holds an 80% stake in Boston Dynamics, with a SoftBank affiliate retaining the remaining 20%. Additional financial details were not disclosed.
By acquiring Boston Dynamics and securing a leading presence in the field of robotics, Hyundai is taking another major step toward its transformation into a Smart Mobility Solution Provider. To propel this transformation, it has invested substantially in the development of future technologies, including autonomous driving, artificial intelligence (AI), Urban Air Mobility (UAM), smart factories and robots.
Boston Dynamics is the established leader in developing agile, mobile robots that has been successfully integrated into business operations of many of the world’s leading industrial firms. Advanced robotics offer opportunities for rapid growth with the potential to positively impact society by making work safer and more productive.
In the field of robotics, Hyundai aims to develop advanced technologies that enhance people’s lives and promote safety, thereby realising the progress for humanity.
The deal is also expected to allow Hyundai and Boston Dynamics to leverage each other’s respective strengths in manufacturing, logistics, construction and automation. Together they will create a robotics value chain, from robot component manufacturing to smart logistics solutions. Additionally, Hyundai 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 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.
This article courtesy of Russell Thrall III, publisher CollisionWeek. Check out their website at: www.collisionweek.com.