Hyundai Acquires Controlling Interest in Boston Dynamics

Hyundai Finalizes Boston Dynamics Acquisition

Hyundai has officially announced the completion of its acquisition of Boston Dynamics. The transaction, which places a valuation of $1.1 billion on the robotics firm, was initially revealed in late 2020.

Ownership Transition

The South Korean automotive manufacturer now holds a controlling stake in Boston Dynamics, previously owned by SoftBank. SoftBank served as an interim owner, having acquired Boston Dynamics from Google, which had ownership for a little over three years.

Commercialization Under SoftBank

During its period with SoftBank, Boston Dynamics achieved the commercial release of its first two products in its nearly three-decade history. These included the quadrupedal robot, Spot, and the announcement of Stretch, an evolved iteration of its warehouse robot, Handle, slated for future release.

Hyundai's Vision for Robotics

Ernestine Fu of Hyundai recently discussed the planned 80% controlling interest acquisition during TechCrunch’s Mobility event. She highlighted that Hyundai’s New Horizon Studios has showcased several “walking” car concepts, potentially leveraging Boston Dynamics’ extensive research.

“New Horizon Studios is focused on redefining possibilities by integrating robotics with conventional wheeled movement, such as walking robots and vehicles,” Fu explained to TechCrunch. “The technology developed by Boston Dynamics is crucial for realizing these concepts.”

Maintaining Research and Development

Throughout its various ownership changes, Boston Dynamics has consistently emphasized the importance of maintaining its independent research division. This has resulted in the development of less commercially focused technologies, like the humanoid robot, Atlas. The future of this research under Hyundai’s ownership is yet to be determined, but the company appears committed to a progressive approach.

Future Collaboration

“Hyundai and we share a common understanding of the transformative potential of mobility, and we anticipate collaborating to expedite our efforts in delivering advanced automation to the world,” stated Boston Dynamics CEO Rob Playter upon the deal’s announcement. “We will also continue to address complex robotics challenges for our clientele.”