Robotics firm Boston Dynamics is best known for its robot dog “Spot”.
The Hyundai Motor Group will soon acquire a controlling interest in robotics firm Boston Dynamics. The firm, best known for its robot dog “Spot”, has been valued in the deal at $1.1 billion.
Under the agreement, Hyundai Motor Group will hold an approximately 80% stake in the robotics firm. SoftBank, through one of its affiliates, will retain the remaining 20%.
Hyundai Motor Group claims that the acquisition will allow it to establish a leading presence in the field of robotics. It also marks another major step toward its strategic transformation into a Smart Mobility Solution Provider.
Hyundai Motor Group also plans to expand its presence into the humanoid robot market. It states its aim is for these robots to deliver sophisticated services such as caregiving for patients at hospitals.
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