Hyundai Motor Completes Acquisition of Global Robotics Company 'Boston Dynamics'

[Asia Economy Reporter Changhwan Lee] Hyundai Motor Group announced that it has completed the acquisition of the U.S. robotics company Boston Dynamics.

Hyundai Motor disclosed on the 21st that the acquisition of shares in Boston Dynamics from the SoftBank Group, which began in December last year, has been finalized.

As a result, Hyundai Motor Group now holds 80% of Boston Dynamics' shares, while SoftBank Group holds 20%.

During the acquisition process, Boston Dynamics was valued at $1.1 billion (approximately 1.2 trillion KRW).

Hyundai Motor Group's stake in Boston Dynamics is composed of Hyundai Motor with 30%, Hyundai Mobis 20%, Hyundai Glovis 10%, and Chung Euisun, Chairman of Hyundai Motor Group, 20%.

Hyundai Motor Group assessed that Boston Dynamics possesses world-class core technologies comprehensively in fields such as autonomous driving (walking), robotic arms, and vision (perception/judgment) for entry into markets including logistics robots, guidance and support robots, and humanoid robots.

Boston Dynamics has gained attention by developing the quadruped walking robot "Spot" and the bipedal upright walking robot "Atlas." In March, it introduced "Stretch," a robot specialized for warehouse and logistics facilities.

Hyundai Motor Group expects that the acquisition of Boston Dynamics will secure a leading position in the field of robotics and accelerate its strategic transition to a smart mobility solutions provider. Synergies with autonomous vehicles, urban air mobility (UAM), and smart factory technologies are also anticipated.

Hyundai Motor Group plans to integrate Boston Dynamics' capabilities in manufacturing, logistics, and construction sectors as well. From manufacturing robot parts to building smart logistics solutions, it aims to create a new value chain utilizing robotics and support Boston Dynamics' global sales, service, and product line expansion.