Warehousing crucial to major robotics acquisition
Hyundai Motor Group will acquire a controlling interest in advanced robotics firm Boston Dynamics, valued at $1.1 billion.
Boston Dynamics is entering the logistics automation market with Pick, a computer vision-based depalletising solution, and will introduce a mobile robot for warehouses in 2021.
The deal essentially brings together an innovative robotics firm with a mass manufacturing leader.
Hyundai will buy the 80% stake off SoftBank who in turn acquired the robotics group from Google in 2017 for a reported $100m. The deal could represent a significant milestone, as it only really makes sense if Hyundai believes robots can be reliably mass manufactured and sold at a reasonable price point in the near future.
Hyundai Motor Group has invested substantially in development of future technologies, including in fields such as autonomous driving technology, connectivity, eco-friendly vehicles, smart factories, advanced materials, artificial intelligence (AI), and robots.
Hyundai Motor Group chairman Euisun Chung said: “The transaction will unite capabilities of Hyundai Motor Group and Boston Dynamics to spearhead innovation in future mobility.”
The transaction is expected to close by June 2021.
