Acquisition Success Likely to Boost Hyundai Motor Group's Future New Growth Engine Creation
[Asia Economy Reporter Sung Ki-ho] Hyundai Motor Group is pursuing the acquisition of Boston Dynamics, a U.S. robot development company famous for its 'robot dog.'
According to Bloomberg on the 10th, SoftBank is discussing a plan to sell Boston Dynamics, which it acquired from Google, to Hyundai Motor. The deal is expected to be worth up to $1 billion (approximately 1.135 trillion KRW), with discussions underway to transfer control of Boston Dynamics to Hyundai Motor. However, it is reported that there remains a possibility of changes in negotiation terms or the acquisition falling through during the negotiation process.
Founded in 1992, Boston Dynamics was acquired by Google in 2013 and then SoftBank took full ownership of its shares in 2017. Boston Dynamics first released 'Spot' in 2015, a robot equipped with a 360-degree camera that can run at a speed of 1.58 meters per second on four legs, climb stairs, and has waterproof capabilities. However, as Boston Dynamics is a research-focused organization, although it introduced innovative robots besides Spot, it has not achieved significant commercial success.
If this acquisition is completed, it is expected to further accelerate Hyundai Motor Group's creation of future new growth engines. Hyundai Motor Group is making bold investments, collaborations, and talent acquisitions to transform into a 'future mobility solutions company.' Robotics technology is closely related to the entire future mobility industry, including autonomous driving.
So far, Hyundai Motor Group has showcased wearable robots and cars that walk with robotic legs. Boston Dynamics possesses core technology that allows remote control and free movement even in rough terrain, so if the acquisition is successful, synergy effects are anticipated.
A Hyundai Motor Group official said regarding this matter, "Nothing has been decided yet, but as a global group, we are continuously exploring various strategic investment and partnership opportunities."
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