To boost robotics technology Hyundai Motor Group announced to acquire a controlling interest in Boston Dynamics in a deal that values the mobile robot firm at $1.1 billion. As per deal Hyundai Motor will hold an approximately 80% stake in Boston Dynamics.
- The deal came as Hyundai Motor Group envisions the transformation of human life by combining world-leading robotics technologies with its mobility expertise.
- Under the agreement, SoftBank, will retain an approximately 20% stake in Boston Dynamics after the closing of the transaction.
- Boston Dynamics is the established leader in developing agile, mobile robots that have been successfully integrated into various business operations.
Some prominent expansions and collaboration by Hyundai Motor Company are mentioned below:
Aug 2020: Intelligent mobility solution provider Hyundai Motor Group and Aptiv PLC revealed their official name and brand identity: Motional . The new JV Motional will promote development and the safest and highest performing autonomous vehicles in the world.
June 2020: The leading vehicle manufacturer Hyundai Motor Company announced investment in Hydrogenious LOHC Technologies GmbH. The investment by Hyundai helps in joint technology and business development agreement for stationary and on-board LOHC-systems.
April 2020: Hyundai Motors subsidiary Kia Motors has announced the delivery of almost 15,000 face shields to the Georgia Emergency Management Agency (GEMA), in response to COVID-19 pandemic. The face shields produced at Kia Motors Manufacturing Georgia (KMMG) facility to overcome the shortage of PPE kit.
April 2020: The global automotive parts and equipment supplier Hyundai Mobis announced the expansion of its technical center in India, to strengthen software development for future vehicles and enhance its R&D activities in the country. The company has worldwide R&D networking in Korea, North America, Europe and China.
February 2020: Hyundai Motor Group has announced an agreement with California based startup Canoo to jointly develop an electric vehicle (EV) platform based on Canoos proprietary skateboard design for upcoming Hyundai and Kia models.
November 2019: Hyundai Motor Company expands into Indonesia, with its first manufacturing plant in the country. The company entered into a memorandum of understanding (MOU) with the Indonesian government for the manufacturing plant. The new Indonesian Manufacturing plant will represent an investment of approximately US$1.5 billion until 2030 including product development and operational costs. The new facility will have an annual capacity of 150,000 units and will begin commercial production in the second half of 2021. The plant will finally be able to build approximately 250,000 vehicles annually when it reaches full capacity.
About Hyundai Motor Company
South Korea based Hyundai Motor Company is a leading manufacturer, seller, and exporter of passenger cars, trucks, and commercial vehicles. The company headquartered in Seoul, South Korea. The company also deals in auto parts and railways manufacturing. Hyundai is also involved in financing, leasing, and credit cards through its subsidiaries.
Hyundai Motor Group is a global organization that has formed a value chain based on automobiles, steel, and construction and includes logistics, finance, IT, and service. The groups auto brands include Hyundai Motor Co. and Kia Motors Corp and Genesis. The organisation has almost 250,000 employees in around 200 countries of the world.
Hyundai Motor Company was established in 1967 in Seoul. Hyundai has sold more than 4.5 million vehicles worldwide. The companys constant efforts to enhance its product line-up with vehicles that are helping to build solutions for a more sustainable future, such as NEXO the worlds first dedicated hydrogen-powered SUV. Recently the company has revealed its new design philosophy Sensuous Sportiness for upcoming Hyundai vehicles. Hyundai Motor promotes a customer-driven corporate culture by providing the best quality, sensible, and impeccable service to customers. The company has advanced its caring approach to connect with customers around the world at any time.
The global automobile industry is facing a wave of rapid change due to accelerating technological innovations, ecological sustainability, and intensifying competition. Hyundai Motor is armed with creative thinking, cooperative communication, and willing to take all challenges, helps in creating a future auto leader. The companys research team focuses on developing a new level of active safety that keeps the company one step ahead with others.
Hyundai Motor is planning to introduce a large number of electric vehicles by 2025. The company will have next-generation fuel cell technology with increased mileage ranges of EV to position the company as a leading maker of eco-friendly vehicles. The company will set up an innovation centre to explore new business areas of future innovation. Hyundai Motor is investing in new technologies and R&D activities, which lead to future innovations in the automobile industry.