Issue link: https://maltatoday.uberflip.com/i/1318996
maltatoday | SUNDAY • 13 DECEMBER 2020 10 MOTORING HYUNDAI has purchased Bos- ton Dynamics from SoftBank Group in a deal valued at $1.1 billion. Announced on Friday on the back of rumors of the purchase that first began to circle in No- vember, Hyundai Motor Group and Chairman Euisun Chun said that they had agreed to ac- quire an 80% controlling stake in Boston Dynamics, while 20% will be held by SoftBank through one of its affiliates. Hyundai says the deal will "mark another major step to- ward its strategic transfor- mation into a smart mobility solution provider," and will complement existing invest- ments in sustainability, eco-ve- hicles, smart factories -- oth- erwise known as Industry 4.0 -- artificial intelligence (AI), and robotics. Founded in 1992, Boston Dy- namics focuses on advanced robotic designs suitable for commercial applications. In particular, the company has been working toward robotics suitable for hazardous envi- ronments by creating products with high levels of dexterity and mobility. The robotics and engineering group, perhaps best known for its Spot robot - launched com- mercially this year - intends to enter the logistics automation market soon with Pick, and a mobile robot suitable for ware- houses is also expected to be- come available next year. Hyundai said that Boston Dynamics has massive growth potential and its portfolio con- tains "multiple key technolo- gies" of interest to the motor group. In particular, technol- ogies related to "perception, navigation, and intelligence" are noted. Where Boston Dynamics is based, in Boston and Silicon Valley, was also a factor in the acquisition. Hyundai calls these areas "major robot cluster regions" which are ideal for tapping top talent in the robotics field and "collaborating with competent partners." Hyundai says that both of the companies can "leverage each other's respective strengths in manufacturing, logistics, con- struction, and automation." Hyundai buys robot maker Boston Dynamics to boost AV push Boston Dynamics' products include Spot, a four-legged dog- like robot that can climb stairs