Boston Dynamics — the company that made the ‘Spot’ — a yellow robot dog you saw in some of the famous YouTubers’ channels, is now almost owned by Hyundai Motor Group. SoftBank has agreed to sell 80% stake valued at $1.1 billion to HMG. The transaction, subject to regulatory approvals and other customary closing conditions, is expected to close by June 2021. SoftBank will retain the remaining 20% stake.
Boston Dynamics’ robots are mainly intended to be used in difficult to reach environments where sending humans could be dangerous. The company launched its first commercial robot, ‘Spot’ in June of 2020 and has since sold hundreds of units that are being used in various industries such as power utilities, construction, manufacturing, oil and gas, and mining. A humanoid robot called ‘Atlas’ and a robot for warehouses called ‘Pick’ are expected to go on sale in 2021.
We are delighted to have Boston Dynamics, a world leader in mobile robots, join the Hyundai team. This transaction will unite the capabilities of Hyundai Motor Group and Boston Dynamics to spearhead innovation in future mobility. – Euisun Chung, Chairman, Hyundai Motor Group
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