Hyundai Motor Group acquires majority stake in robot maker Boston Dynamics
June 23, 2021 by Manufacturing AUTOMATION
Hyundai Motor Group has acquired a controlling interest in mobile robot maker Boston Dynamics from SoftBank for US$1.1 billion.
Post-closing, the Group holds an 80 per cent stake in Boston Dynamics and SoftBank, through one of its affiliates, retains the remaining 20 per cent.
Boston Dynamics develops agile, mobile robots that integrate into the business operations of industrial firms to make work safer.
With the acquisition, Hyundai Motor Group continues what it says is a strategic transformation into a smart mobility solutions provider by investing in the development of future technologies such as autonomous driving, artificial intelligence (AI), urban air mobility (UAM), smart factories and robots.
The deal is expected to allow the Group and Boston Dynamics to 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 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.