Hyundai Motor buys US agency Boston Dynamics for $880 mn
Seoul: Hyundai Motor Group stated on Monday its three associates and its chief have acquired a controlling stake in US-based robotics agency Boston Dynamics for $880 million. The funding is a part of the South Korean automaking group’s broader plans to strengthen its competitiveness in future mobility options.
In December, the board of administrators on the three associates — Hyundai Motor, Hyundai Mobis and Hyundai Glovis — accredited the plan to accumulate a mixed 80 % stake in Boston Dynamics whose worth is estimated at $1.1 billion, from Japanese funding agency SoftBank Group Capital Ltd and two people.
In the identical month, Hyundai introduced it would make investments 60.1 trillion gained by 2025 for future mobility to achieve a much bigger share within the quickly evolving international vehicle market, experiences Yonhap information company. Hyundai Motor Group Chairman Chung Euisun final week visited Boston Dynamics within the US to debate the most recent robotics expertise developments with its executives.
In December final yr, the world’s fifth-largest automotive group acquired an 80 % stake in Boston Dynamics, which is known for its dog-like robotic Spot to leverage its robotics expertise in different industrial areas. Hyundai Motor stated it plans to create synergy between robotics, autonomous autos, city air mobility and sensible factories to supply numerous mobility providers each in non-public and public sectors.
Boston Dynamics is the established chief in creating agile, cellular robots which were efficiently built-in into numerous enterprise operations. The deal can be anticipated to permit Hyundai Motor Group and Boston Dynamics to leverage one another’s respective strengths in manufacturing, logistics, building and automation.
Boston Dynamics launched a cellular robotic for warehouses this yr.