Hyundai Finalizes $1.1 Billion Takeover of Boston Dynamics
Hyundai officially completes its acquisition of a controlling stake in Boston Dynamics, valuing the robotics firm at $1.1 billion. The automaker plans to leverage Boston Dynamics' technology to advance its own walking vehicle concepts.
Hyundai announces the completion of its acquisition of a controlling interest in Boston Dynamics, a deal that values the renowned robotics company at $1.1 billion. The South Korean automotive giant takes over from SoftBank, which acts as a transitional owner after Google's brief three-year tenure. Although the companies keep future financial details private, Hyundai now holds an 80% stake in the firm.
Under SoftBank's ownership, Boston Dynamics successfully commercializes its first two products after nearly three decades of development. The company brings the quadrupedal robot Spot to market and reveals plans for Stretch, an updated version of its Handle warehouse robot. These commercial milestones mark a significant shift for a company historically focused on advanced, non-commercial research like its humanoid robot, Atlas.
Hyundai intends to integrate Boston Dynamics' advanced robotics research into its own futuristic mobility projects through its New Horizon Studios. The automaker previews several "walking" car concepts that rely heavily on the leg-based locomotion technology developed by Boston Dynamics. Both companies express a shared vision of transforming mobility and accelerating the development of cutting-edge automation to solve complex robotics challenges.