Hyundai Finalizes $880 Million Deal for Controlling Stake in Boston Dynamics
Hyundai Motor Group officially acquires an 80% stake in Boston Dynamics, marking the robot maker's third ownership change in seven years. The partnership aims to combine Hyundai's manufacturing scale with Boston Dynamics' advanced robotics for logistics and automation.
Hyundai Motor Group officially completes its acquisition of an 80% controlling stake in Boston Dynamics, with SoftBank retaining the remaining 20% through an affiliate. The $880 million deal values the famous robotics company at $1.1 billion and marks the third time Boston Dynamics changes owners in just seven years, following previous acquisitions by Google and SoftBank.
The new partnership focuses on building a complete robotics value chain that spans from robot component manufacturing to smart logistics solutions. Hyundai plans to leverage Boston Dynamics' technology to bring its futuristic walking car concept to life while expanding the robot maker's global sales and service footprint across manufacturing, construction, and automation industries.
Boston Dynamics currently drives commercial growth through its Spot quadruped robot, which now features an optional robotic arm for mobile manipulation, and its upcoming Stretch robot designed for warehouse box moving. Stretch is currently undergoing partner testing and is scheduled to go on sale in 2022 with an initial focus on truck unloading capabilities.