Hyundai Motor to acquire mobile robot maker Boston Dynamics
With a goal of advancing robotics and mobility to realize progress for humanity, the deal, say the companies, combines the highly complementary technologies of Hyundai Motor Group and Boston Dynamics, and the continued partnership of SoftBank Group, and will propel development and commercialization of advanced robots. The robotics technologies will lend synergies to autonomous vehicles, urban air mobility (UAM), and smart factories.
By establishing a leading presence in the field of robotics, the acquisition will further Hyundai Motor Group’s strategic transformation into a smart mobility solution provider. To propel this transformation, says the company, it has invested substantially in development of future technologies, including in fields such as autonomous driving technology, connectivity, eco-friendly vehicles, smart factories, advanced materials, artificial intelligence (AI), and robots.
The investment in Boston Dynamics furthers Hyundai’s portfolio of technology that addresses opportunities for both service robots and logistics robots. Over time, says the company, it plans to expand its presence into the humanoid robot market with the aim of developing humanoid robots for sophisticated services such as caregiving for patients at hospitals.
Advanced robotics offer opportunities for rapid growth, and Boston Dynamics is the established leader in developing agile, mobile robots that have been successfully integrated into various business operations. The deal is also expected to allow Hyundai Motor Group and Boston Dynamics to leverage each other’s respective strengths in manufacturing, logistics, construction, and automation.
“We are delighted to have Boston Dynamics, a world leader in mobile robots, join the Hyundai team,” says Euisun Chung, Chairman of Hyundai Motor Group. “This transaction will unite capabilities of Hyundai Motor Group and Boston Dynamics to spearhead innovation in future mobility. The synergies created by our union offer exciting new pathways for our companies to realize our goal – providing free and safe movement and higher plane of life experiences for humanity. We will also contribute to the society by enhancing its safety, security, public health amid global trends of aging society and digital transformation.”
Masayoshi Son, Representative Director, Corporate Officer, Chairman & CEO of SoftBank Group says, “Boston Dynamics is at the heart of smart robotics. We are thrilled to partner with Hyundai, one of the world’s leading global mobility companies, to accelerate the company’s path to commercialization. Boston Dynamics has a very bright future and we remain invested in the company’s success.”
Boston Dynamics produces highly capable mobile robots with advanced mobility, dexterity and intelligence, enabling automation in difficult, dangerous, or unstructured environments. The company launched sales of its first commercial robot, Spot in June of 2020 and says it has since sold hundreds of robots in a variety of industries, such as power utilities, construction, manufacturing, oil and gas, and mining.
The company says it plans to expand the Spot product line early next year with an enterprise version of the robot with greater levels of autonomy and remote inspection capabilities, and the release of a robotic arm, which will be a breakthrough in mobile manipulation. The company is also entering the logistics automation market with the Pick, a computer vision-based depalletizing solution, and will introduce a mobile robot for warehouses in 2021.
Robert Playter, CEO of Boston Dynamics says, “Boston Dynamics’ commercial business has grown rapidly as we’ve brought to market the first robot that can automate repetitive and dangerous tasks in workplaces designed for human-level mobility. We and Hyundai share a view of the transformational power of mobility and look forward to working together to accelerate our plans to enable the world with cutting edge automation, and to continue to solve the world’s hardest robotics challenges for our customers.”
Under the agreement, Hyundai Motor Group will hold an approximately 80% stake in Boston Dynamics and SoftBank, through one of its affiliates, will retain an approximately 20% stake in Boston Dynamics after the closing of the transaction. Hyundai Motor Group’s affiliates – Hyundai Motor Co., Hyundai Mobis Co. and Hyundai Glovis Co. – and Hyundai Motor Group Chairman Euisun Chung respectively participated in the acquisition.
Hyundai Motor Group
SoftBank Group
Boston Dynamics
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