Hyundai Motor Group has announced it will acquire an 80% stake in Boston Dynamics from SoftBank Group, valuing the firm at $1.1 billion. Boston Dynamics is well known for its highly mobile robots.
Hyundai expects the acquisitions to generate synergies as the company devotes increased resources towards autonomous vehicles, urban air mobility, and smart factories.
In a statement on the acquisition, Euisun Chung, Chairman of Hyundai Motor Group said, “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.”