Secured 80% of the KRW 1 trillion investment
Hyundai Motor Group will take over a US robotics company for KRW 1 trillion and start the robotics business in earnest. On the 11th, Hyundai Motor Group announced that it has finally agreed to acquire an 80% stake in’Boston Dynamics’, an American robotics company worth $1.1 billion (about 1.2 trillion won) from Softbank Group. According to the agreement, Hyundai Motor Group will own 80% and Softbank Group will own 20%. That is about 960 billion won for Hyundai Motor Group. In addition to Hyundai Motor Company (30%), Hyundai Mobis (20%), and Hyundai Glovis (10%), Hyundai Motor Group Chairman Eui-sun Eui-sun will directly acquire a 20% stake in order to strengthen responsible management. The acquisition is expected to be finalized in the first half of next year (January to June) as soon as possible after approval by relevant government departments.
Boston Dynamics, which developed’Big Dog’, a transport robot capable of four-legged walking in 2004, is being evaluated as possessing the world’s best technology in comprehensive aspects such as autonomous driving (walking), cognition, and control, which are essential for robot operation.
Reporter Kim Do-hyung [email protected]Go to reporter page>
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