Hyundai has just completed the acquisition of Boston Dynamics, a move that marks its entry into the robotics arena.
This deal means that the automaker now owns an 80 percent stake in the company, famous for its robot dog Spot, valued at $ 1.1 billion.
As a result of the transaction, Hyundai is now the third company owned by Boston Dynamics, a spin-off from MIT that was bought by Google in 2013 and then by Softbank (2017), which still holds a 20 percent stake through a subsidiary. .
Now Hyundai’s main plan is to create a robotic value chain that encompasses robotic component manufacturing, construction and automation.
“We are delighted that Boston Dynamics, the world leader in mobile robots, is joining the Hyundai team. This transaction will unite the capabilities of Hyundai Motor Group and Boston Dynamics to spearhead innovation in future mobility, ”said Hyundai CEO Euisun Chung.
“We will also contribute to society by improving its safety, security and public health amid the global trends of aging society and digital transformation.”
In recent years, the Korean firm has invested in connectivity, autonomous technology and artificial intelligence. It has also recently introduced a new electric platform called E-GMP, which tries to increase manufacturing speed and reduce cost.
For its part, Boston Dynamics has as its main project Spot, a quadruped robot in the shape of a dog. It has different functionalities, such as a guide dog for the blind, a sheep herder and it could even be the next explorer of different planets.