Hyundai is acquiring a majority stake in Boston Dynamics, the maker of robotic dog Spot.
Hyundai will take an 80% stake Boston Dynamics, while existing owner SoftBank will maintain a 20% stake. Hyundai sees the acquisition as an important step toward its transformation into a Smart Mobility Solution Provider.
Hyundai has increasingly been innovating beyond the traditional concept of the automobile. The company is investing heavily in its Urban Air Mobility platform, in an effort to make aerial transport and ride-sharing a reality. Similarly, Hyundai and Autodesk are working to create the Ultimate Mobility Vehicle(UMV), a vehicle with legs that can walk to reach areas a traditional vehicle cannot. The latter, in particular, is a concept that bears a striking resemblance to Boston Dynamics’ work.
We are delighted to have Boston Dynamics, a world leader in mobile robots, join the Hyundai team. 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. — Euisun Chung Chairman of Hyundai Motor Group
Hyundai’s stake in Boston Dynamics should help the company continue innovating as automobile makers look beyond traditional transportation.