Hyundai Motor Group Acquires Controlling Interest in Boston Dynamics

• Hyundai Motor Group to acquire a controlling interest in Boston Dynamics, valued at $1.1 billion, with the goal of advancing robotics and mobility to realize progress for humanity

• The combination of the highly complementary technologies of Hyundai Motor Group and Boston Dynamics, and the continued partnership of SoftBank Group, will propel the development and commercialization of advanced robots

• The robotics technologies will lend synergies to autonomous vehicles, UAMs, and smart factories

• Hyundai Motor Group, together with Boston Dynamics, will create a robotics value chain ranging from robot component manufacturing to smart logistics solutions

BOSTON and SEOUL, South Korea and TOKYO, Dec. 11, 2020 /PRNewswire/ — Hyundai Motor Group and SoftBank Group Corp. (SoftBank) today agreed on the main terms of the transaction pursuant to which Hyundai Motor Group will acquire a controlling interest in Boston Dynamics in a deal that values the mobile robot firm at $1.1 billion. The deal came as Hyundai Motor Group envisions the transformation of human life by combining world-leading robotics technologies with its mobility expertise. Financial terms were not disclosed.

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