Hyundai has acquired a controlling interest in American robotics firm Boston Dynamics.
The new deal has valued the robotic firm at US$1.1 billion (A$1.45 billion).
Hyundai now holds an 80 per cent stake in the company with Softbank retaining the remaining 20 percent.
The manufacturer believes the relationship between companies will help “accelerate the development of cutting-edge robotics”.
Both companies will work together to build a ‘robotics value chain’ which includes robot component manufacturing and smart logistics solutions. This, in turn, will help build cars faster and in a more efficient and safe way.
Hyundai believes that robots offer “opportunities for rapid growth and the potential to positively impact society by making work safer and more productive”.
The company says it’s transitioning into a ‘smart mobility solution provider’.
It’s made substantial investments in future technologies including autonomous driving, artificial intelligence, Urban Air Mobility, smart factories and robots.
Boston Dynamics came to the world’s attention through a series of YouTube videos featuring its wild four-legged robot creatures.
The firm also built a two-legged, human-like robot dubbed ‘Atlas’ which could jump, run and walk.
Since its humble beginnings, the company now builds robots for a variety of industries including construction, manufacturing, oil and gas and mining.
One of the firm’s most prominent achievements is the development of Spot, a four-legged walking robot designed to go places where it would be unsafe for humans to venture.
Spot was the company’s first commercial robot. It went on sale in June 2020 and is now being used worldwide by a multitude of organisations.