Hyundai buys giant Boston Dynamics from Softbank

Hyundai buys giant Boston Dynamics from Softbank

She said Collection (Hyundai Motor) today, Friday: It intends to buy an 80 percent stake in Boston Dynamics, a company specialized in manufacturing robots, and a subsidiary of SoftBank.

She said Hyundai: The deal values ​​the robot company at $ 1.1 billion, indicating that the automaker has offered $ 880 million for an 80 percent stake.

Analysts said: Hyundai could benefit from robotic technology to expand automation in its auto factories, as well as design autonomous vehicles, such as: self-driving cars, drones, and delivery robots.

The new share comes after the newly promoted Hyundai Motor Group Chairman Eason Chung pledged to reduce reliance on the traditional automotive industry, saying: Robots will account for 20 percent of the company’s future business, with the auto industry acquiring 50 percent. Percent of business, followed by urban air mobility at 30 percent.

(Cheng) will own a 20 percent stake in Boston Dynamics, while Hyundai Motor and its subsidiaries, namely Hyundai Mobis and Hyundai Gloivs, will own a combined 60 percent stake.

“The deal will unify the capabilities of (Hyundai Motor Group) and Boston Dynamics to lead innovation in mobility in the future,” Chung said in a statement.

Google bought Boston Dynamics – which emerged from the Massachusetts Institute of Technology in 1992 – in 2013, and then sold it to the SoftBank Group in 2017. The company’s products include Spot, a four-legged robot that resembles dogs. He could climb stairs, and he gained media attention even as he struggled to build a business.

Among the company’s customers is Ford Motor Company, which hired two robots from Spot in July as part of a pilot program.

The deal is believed to be the SoftBank Group’s latest exit from business, with CEO Masayoshi Son focused on investing. It also represents SoftBank’s fading ambitions in the field of robotics.

For Hyundai, this is the latest in a string of deals led by Chung, who has pledged to convert the manufacturer The cars have turned into a mobility services company, amid threats from electric car maker Tesla and technology companies through ride-on-demand and autonomous driving services.

It is noteworthy that the (Hyundai Motor) company had developed a wearable robot to reduce the stress of factory workers, and it ran pilot programs in its factories in the United States.

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