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11 December 2020, 10:17 am EST By
Hyundai announced that it will be purchasing robot maker Boston Dynamics from SoftBank. The deal is reportedly with $1.1 billion. IT has been in the works for a few months now and it marks a major step into consumer robotics for Hyundai.
Hyundai buys Boston Dynamics
According to Bloomberg, Hyundai is taking 80% stake in the company while its previous owner, SoftBank, will still get 20% through an affiliate.
Hyundai says that its investment will help its development of service and logistics robots, but in the future, the company hopes to make more humanoid robots for jobs such as caregiving for patients at hospitals. The other areas of interest for the company includes autonomous driving and smart factories.