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| Hyundai controls Boston Dynamics |
Hyundai Motor Corporation today announced that it has completed its acquisition of Boston Dynamics. The deal valued the innovative robotics company at $1.1 billion and was announced in late 2020.
The two companies did not provide any information on future financial details. The South Korean auto giant now owns a majority stake in Boston Dynamics, formerly owned by SoftBank.
This Japanese investment company is actually a transitional owner and has acquired Boston Dynamics from Google Singer, who owned the company for just over three years.
Although his relationship with Softbank was not much longer than his time at Google. Since its inception 30 years ago, Boston Dynamics has seen the marketing of its first two products.
The company launched a four-legged Spot Robot. That year he announced Stretch, an updated version of his handle-storage robot.
Ernestine Fu of Hyundai Motor Company recently discussed a plan to acquire an 80 percent majority stake in the company.
Fu noted that Hyundai's New Horizons studio has reviewed several pedestrian vehicle concepts and appears to be based on decades of research by Boston Dynamics.
"For New Horizons studio, we're thinking about what can be done when robotic technology is combined with traditional wheel movements (such as robots and walking vehicles)," Fu said.
"Obviously, technology developed by Boston Dynamics was instrumental in creating these kinds of concepts," he added.
Boston Dynamics has long insisted that it have its own research department that offers less commercial technology like the robot called Atlas.
Hyundai Boston Dynamics owns:
Rob Platt, CEO of Boston Dynamics, said, “We share with Hyundai a shared vision of the transformative power of mobility. We look forward to working together to accelerate our plan to bring advanced automation to the world. Our customers solve the world's toughest robotics challenges."
Boston Dynamics is a leading developer of intelligent mobile robots that have been integrated into the business operations of many of the world's largest industrial companies.
Advanced robotic technology offers opportunities for rapid growth and has the potential to make a positive impact on society by making work safer and more efficient.
With the acquisition of Boston Dynamics and securing its leadership position in robotics, Hyundai Motor has taken another important step toward its strategic transformation into an intelligent mobility solutions provider.
In order to drive this transformation forward, Hyundai has invested a lot of money in developing future technologies. These include autonomous driving, artificial intelligence, urban air traffic, smart factories, and robotics.
In the field of robotics, Hyundai Motor aims to develop advanced technologies that improve people's lives and improve safety to move people forward.
Through this deal, the two companies will leverage their strengths in manufacturing, logistics, construction and automation.