Hyundai has officially confirmed the purchase of 80% of Boston Dynamics for $1.1 billion

This week, media outlets, citing their own sources, reported that South Korean auto company Hyundai Motor is buying robot maker Boston Dynamics. Now Hyundai has officially confirmed this information.

As a result of the deal, Hyundai will receive a controlling stake with 80% of Boston Dynamics. The remaining 20% ​​will remain with the current owner of SoftBank. This will cost Hyundai $1.1 billion, although a smaller amount was initially reported.

Hyundai’s investment will help develop robots for service and logistics purposes, the statement said. The company also plans to develop humanoid robots to care for patients in hospitals and is interested in autonomous driving and smart factories. In turn, Boston Dynamics speaks of “a mission to push the boundaries of modern robots and create rewarding use cases in a smarter, more connected world.”

The deal should be closed by June 2021, but after the approval of the regulator.

Recall that Hyundai will become the third owner of Boston Dynamics after Google (2013) and SoftBank (2017).

Google News button
Tags: ,