Hyundai Buys Out SoftBank Stake in Boston Dynamics
Synopsis
The automaker is taking full ownership of the robotics company to accelerate the deployment of advanced robots across its manufacturing network.
Key Highlights
- Hyundai Motor Group plans to buy the 10% ownership stake in Boston Dynamics still held by SoftBank.
- This acquisition will effectively turn the US company into a 100% owned subsidiary of Hyundai.
- The company will deploy Atlas humanoid robots at its Georgia manufacturing plant from 2028
Hyundai Motor Group said on Thursday it will acquire SoftBank Group Corp’s remaining stake of about 10% in U.S. robotics firm Boston Dynamics and make it a wholly owned unit.
Financial terms of the transaction weren’t disclosed by the companies. But last month, local media reported the deal could be valued at some 500 billion won (US$335 million). Boston Dynamics was 80%-owned by Hyundai as of 2021.
Deployment of Atlas Robots in Manufacturing
Hyundai announced that the purchase will help deploy cutting-edge robotics across its business.
The company will utilize the Boston Dynamics Atlas humanoid robot starting in 2028 at its plant in Georgia, especially for the vehicle manufacturing process. Atlas will start with parts sequencing work, although Hyundai plans to broaden its role in manufacturing tasks up until component assembly by 2030.
Source: Reuters
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