SoftBank Group announced the completion of the sale of Boston Dynamics, the mobile robot firm, to Hyundai Motor for $1.1 billion.
Post-closing, Hyundai Motor holds an 80 percent stake in Boston Dynamics and SoftBank, through one of its affiliates, retains the remaining 20 percent stake.
Boston Dynamics is the established leader in developing agile, mobile robots that have been successfully integrated into business operations of many of the world’s leading industrial firms. Advanced robotics offer opportunities for rapid growth with the potential to positively impact society by making work safer and more productive.
Hyundai Motor has already invested substantially in the development of future technologies, including autonomous driving, artificial intelligence (AI), Urban Air Mobility (UAM), smart factories and robots.
Hyundai Motor aims to develop advanced technologies in the field of robotics to enhance people’s lives and promote safety.
Boston Dynamics will create a robotics value chain, from robot component manufacturing to smart logistics solutions.
Boston Dynamics launched sales of its commercial robot, Spot in June of 2020 and now has hundreds of robots operating in a variety of industries, including power utilities, construction, manufacturing, oil and gas, and mining. The company recently unveiled Stretch, its first commercial robot specifically designed for warehouse facilities and distribution centers.