Boston Dynamics develops and deploys highly mobile robots with advanced mobility, dexterity and intelligence, enabling automation in unstructured or hard-to-traverse spaces, from industrial plants and construction sites, to distribution centers and warehouses.
Hyundai Motor Group, Boston Dynamics, Inc. and SoftBank Group Corp. (TOKYO: 9984) announced today the completion of the Group’s acquisition of a controlling interest in Boston Dynamics from SoftBank, following regulatory approvals and other customary closing conditions. The deal valued the mobile robot firm at $1.1 billion. Additional financial details were not disclosed. Now, the Group holds an 80% stake in Boston Dynamics. SoftBank, through one of its affiliates, retains the remaining 20% share.
“By acquiring Boston Dynamics and securing a leading presence in the field of robotics, the Group takes another major step toward its strategic transformation into a Smart Mobility Solution Provider. To propel this transformation, the Group has invested substantially in the development of future technologies, including autonomous driving, artificial intelligence (AI), Urban Air Mobility (UAM), smart factories and robots,” said Hyundai Motor Group in a release.
“In the field of robotics, the Group aims to develop advanced technologies that enhance people’s lives and promote safety, thereby realizing the progress for humanity,” Hyundai Motor Group claimed.
The Group today also released a new video to reveal how it would further advance mobility for humanity incorporating Boston Dynamics’ expertise. The video is available on Hyundai’s youtube channel.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Hyundai Motor Group Buys Boston Dynamics from SoftBank
Boston Dynamics develops and deploys highly mobile robots with advanced mobility, dexterity and intelligence, enabling automation in unstructured or hard-to-traverse spaces, from industrial plants and construction sites, to distribution centers and warehouses.
Hyundai Motor Group, Boston Dynamics, Inc. and SoftBank Group Corp. (TOKYO: 9984) announced today the completion of the Group’s acquisition of a controlling interest in Boston Dynamics from SoftBank, following regulatory approvals and other customary closing conditions. The deal valued the mobile robot firm at $1.1 billion. Additional financial details were not disclosed. Now, the Group holds an 80% stake in Boston Dynamics. SoftBank, through one of its affiliates, retains the remaining 20% share.
“By acquiring Boston Dynamics and securing a leading presence in the field of robotics, the Group takes another major step toward its strategic transformation into a Smart Mobility Solution Provider. To propel this transformation, the Group has invested substantially in the development of future technologies, including autonomous driving, artificial intelligence (AI), Urban Air Mobility (UAM), smart factories and robots,” said Hyundai Motor Group in a release.
“In the field of robotics, the Group aims to develop advanced technologies that enhance people’s lives and promote safety, thereby realizing the progress for humanity,” Hyundai Motor Group claimed.
The Group today also released a new video to reveal how it would further advance mobility for humanity incorporating Boston Dynamics’ expertise. The video is available on Hyundai’s youtube channel.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.