The popular company Hyundai buys Boston Dynamics for the value of $1 billion. Boston Dynamics is a robotic design company that started in 1992. On December 11th, 2020 Hyundai Motor Company got the eighty per cent stake of the company. Therefore, most of the ownership of the Boston Dynamics belongs to Hyundai now. The other twenty per cent of the stake retained by one of the affiliates SoftBank.
Boston Dynamics is well known all around the world for its creation of highly-mobile robots such as Spot, Atlas, BigDog, and Handle. The company’s first commercially available robot is Spot. The company had plans to commercialise their other robots also. Many famous films and TV series have got inspired by the robot designs of Boston Dynamics.
On 3 a.m. ET the company confirmed the news of Hyundai acquiring the controlling interest. It got valued at the US $1.1 billion. The media release of the company about this matter was very huge. But from it, we can get some idea about what the future of Boston Dynamics is going to be.
The first thing we know is that Hyundai Motors will split the acquisition between its affiliates like Hyundai Motor, Hyundai Glovis and Hyundai Mobis. The Hyundai Motors as we all know creates cars. The Hyundai Glovis performs logistics. The other affiliates are separate entities and perform other important work for the company.
Table of Contents
What this acquisition will mean for Hyundai Motors?
The Hyundai through its acquisition of Boston Dynamics can make a mark in the Robotics industry. They have invested in the development of technologies of the future. They want to improve in fields like connectivity, eco-friendly vehicles, advanced materials, intelligence (AI) and more. To say in one sentence their vision is to become “Smart Mobility Solution Provider”. So the expertise of the Boston Dynamics will help Hyundai to build autonomous driving technology.
Along with the long term benefits, the company will also gain immediate benefits through the acquisition. They will impact society in many ways by joining with Boston Dynamics for working on manufacturing, automation, construction and logistics.
What will happen to Boston Dynamics?
The current CEO of the company is Robert Playter. He has released a statement about the changes. He shared that his company and Hyundai have the same view of the transformational power of mobility. So they are looking forward in working together to create cutting edge automation.
One company’s ownership of another company can result in many developments. We have to wait and see what plans they have for the future.