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| Hyundai to acquire giant Boston Dynamics from SoftBank |
Hyundai Motor Group on Friday announced plans to buy 80% of Boston Dynamics, the robot manufacturer and subsidiary of SoftBank.
Hyundai Motor said: The deal valued the robot company at $ 1.1 billion, noting that the automaker offered $ 880 million to acquire 80% of its shares.
According to analysts, Hyundai Motor could leverage robots to increase the level of automation in its auto factories and develop self-driving cars such as self-driving cars, drones, and delivery robots.
After Eason Chung, the new chairman of Hyundai Motor Corporation, pledged to reduce dependence on the traditional auto industry, it was stated in the new inventory that robots would account for 20% of future business. Society and the auto industry 50%. Percentage of activity followed by 30% of air travel in urban areas.
Cheng will own 20% of the shares in Boston Dynamics, while Hyundai Motor and its subsidiaries, Hyundai Mobis and Hyundai Groves together will hold 60% of the shares.
"This deal will combine the ability (of Hyundai Motor Group) and Boston Dynamics to push transportation innovation forward," Chung said in a statement.
Google acquired Boston Dynamics, born in 1992 by the Massachusetts Institute of Technology, and sold it to the SoftBank Group in 2017. The company's products include Spot, a four-legged robot that resembles dogs. He can climb stairs and has already caught media attention while trying to start a business.
Ford Motor Company is one of its customers. In July, the company hired two of Spot's robots as part of a pilot program.
The deal marks SoftBank's latest commercial exit, as CEO Masayoshi Son focused on investments. It also represents SoftBank's ambitions in robotics.
For Hyundai, this is the latest in a series of agreements that remain loyal to the Chinese leadership. Zhongzheng has pledged to turn auto makers into mobility service providers, while electric car maker Tesla and tech companies pose a threat from drive-on-demand and autonomous services. .
It is worth noting that Hyundai Motor Company has developed portable robots to relieve stress on factory workers and have run a pilot program in the American factory.