Hyundai Motor Group acquires Boston Dynamics

June 23, 2021 // By Christoph Hammerschmidt
Hyundai Motor Group acquires Boston Dynamics
The Korean carmaker Hyundai has completed the takeover of the iconic robot company Boston Dynamics, the company that is most known for building highly sophisticated dancing robot dogs, from current owner SoftBank. The carmaker plans to use the Boston Dynamics’ expertise to set up a robotic value chain.

Boston Dynamics is said to be the established leader in developing agile, mobile robots that have been successfully integrated into business operations of many industrial firms. By acquiring Boston Dynamics and securing a leading presence in the field of robotics, Hyundai takes another major step toward its strategic transformation into a Smart Mobility Solution Provider. To propel this transformation, Hyundai has invested substantially in the development of future technologies, including autonomous driving, artificial intelligence (AI), Urban Air Mobility (UAM), smart factories and robots.

The deal is expected to allow Hyundai and Boston Dynamics to leverage each other's respective strengths in manufacturing, logistics, construction and automation. Together, both companies will create a robotics value chain, from robot component manufacturing to smart logistics solutions. Additionally, Hyundai will support Boston Dynamics' continued expansion of its product line and global sales and service footprint.

Post-closing, Hyundai holds an 80 % stake in Boston Dynamics. SoftBank, through one of its affiliates, retains the remaining 20 % stake.

Boston Dynamics launched sales of its first 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 also recently unveiled Stretch, a robot specifically designed for warehouse facilities and distribution centers.

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