Hyundai Motor Group said Monday its three affiliates and its chief have acquired a controlling stake in U.S.-based robotics firm Boston Dynamics, Inc. for US$880 million.
In December, the board of directors at the three affiliates — Hyundai Motor Co., Hyundai Mobis Co. and Hyundai Glovis Co. — approved the plan to acquire a combined 80 percent stake in Boston Dynamics whose value is estimated at $1.1 billion, from Japanese investment firm SoftBank Group Capital Ltd. and two individuals.
In the same month, Hyundai announced it will invest 60.1 trillion won by 2025 for future mobility to gain a bigger share in the rapidly evolving global automobile market.