Hyundai Motor Group Acquires US Firm Boston Dynamics for $880 Million: Report

Seoul: Hyundai Motor Group mentioned on Monday its three associates and its chief have acquired a controlling stake in US-based robotics agency Boston Dynamics for $880 million. The funding is a part of the South Korean automaking group's broader plans to strengthen its competitiveness in future mobility options. 2021 Hyundai Alcazar Three-Row SUV Launched in India at Rs 16.30 Lakh; Check Variant-Wise Prices, Features & Specifications.

In December, the board of administrators on the three associates -- Hyundai Motor, Hyundai Mobis and Hyundai Glovis -- authorized the plan to amass a mixed 80 % stake in Boston Dynamics whose worth is estimated at $1.1 billion, from Japanese funding agency SoftBank Group Capital Ltd and two people.

In the identical month, Hyundai introduced it'll make investments 60.1 trillion received by 2025 for future mobility to achieve a much bigger share within the quickly evolving international car market, studies Yonhap information company.

Hyundai Motor Group Chairman Chung Euisun final week visited Boston Dynamics within the US to debate the most recent robotics expertise tendencies with its executives. In December final 12 months, the world's fifth-largest automotive group acquired an 80 % stake in Boston Dynamics, which is legendary for its dog-like robotic Spot to leverage its robotics expertise in different industrial areas.

Hyundai Motor mentioned it plans to create synergy between robotics, autonomous automobiles, city air mobility and good factories to offer varied mobility companies each in personal and public sectors. Boston Dynamics is the established chief in creating agile, cellular robots which were efficiently built-in into varied enterprise operations.

The deal can also be anticipated to permit Hyundai Motor Group and Boston Dynamics to leverage one another's respective strengths in manufacturing, logistics, development and automation. Boston Dynamics can also be coming into the logistics automation market with the trade main Pick, a pc vision-based depalletizing answer, and was more likely to introduce a cellular robotic for warehouses this 12 months.

(The above story first appeared on SociallyKeeda on Jun 21, 2021 03:51 PM IST. For extra information and updates on politics, world, sports activities, leisure and way of life, go surfing to our web site latestly.com).