Hyundai Motor Group announced on Dec. 11 that it has finally agreed to acquire a controlling stake in U.S. robot company "Boston Dynamics" from Softbank Group.
Hyundai Motor Group will hold an 80 percent stake in Boston Dynamics and Softbank Group a 20 percent stake.
The 80 percent stake in Boston Dynamics secured by Hyundai Motor Group consists of 30 percent in Hyundai Motor, 20 percent in Hyundai Mobis, 10 percent in Hyundai Glovis and 20 percent in Hyundai Motor Group Chairman Chung Eui-sun.
The three Hyundai Motor Group companies that participated in the acquisition are expected to form a new value chain centered on robots through the acquisition of Boston Dynamics.
Robotics technology is expected to be used not only in future mobility such as self-driving cars and electric vehicles, but also in logistics, transportation and service businesses, which are expected to have new synergy effects at the group level.
"By deploying robots in factories and logistics centers of Hyundai Mobis and Hyundai Glovis, we can expand demand for robots and serve as a test bed to verify the reliability of robot systems," a Hyundai Motor Group official said.
"We believe that the introduction of robots in the group will help improve profitability by securing economies of scale and increasing price competitiveness," he added.
