Boston Dynamics changed hands three times in 7 years, and Korea Hyundai took over

Create Date: 2024-8-30 12:03:23|Source: Korea Hyundai/HYUNDAI

According to the Korea Economic Daily, Hyundai Motor Group acquired Boston Dynamics, a global leader in robot development. This is the first large-scale acquisition since Chung Eui-sun became chairman of Hyundai Motor Group in October this year.

                                    Boston Dynamics changed hands three times in 7 years, and Korea Hyundai took over

According to the investment banking (IB) industry on the 8th, Hyundai Motor Group negotiated with Japan's SoftBank Group and finally decided on specific terms such as the transaction price, and will officially announce the pallet plan soon. Hyundai Motor Group, Hyundai Mobis and other companies under the Hyundai Motor Group decided to buy in installments, and the price was only 800 billion to 900 billion won (about 4.9 billion to 5.5 billion yuan), slightly lower than the original estimate of 1 trillion won. Hyundai bears about half.

Boston Dynamics is best known for its robot dog, Spot. After being separated from the Massachusetts Institute of Technology (MIT) in 1992, it was acquired by Google in 2013 and again by SoftBank in 2017. Spot, which debuted in 2015, is attracting attention for its ability to walk, run, and climb stairs on all fours.

Hyundai Motor Group believes that robotics is the driving force for future growth, and this acquisition is expected to further accelerate the capture of the mobile tourism market in the future. In October last year, Chairman Chung said at a meeting with executives and employees that Hyundai Motor Group's future business accounts for 50 percent, 30 percent of which are private jets (PAVs), and the remaining 20 percent are robots.

In 2018, Chairman Chung established a new robotics team within the group, and invested in 42dot, a startup in the field of autonomous driving, and RealTimeRobotics, a startup in robotics. At the beginning of this year, it was also announced that it would invest 1 million won (about 600 billion yuan) in personal aircraft, robots, and last-mile mobility programs over the next five years. The investment banking industry believes that Hyundai Motor Group will also actively acquire in other areas of mobile tourism.

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