Hyundai chairman, Group to buy Boston Dynamics from SoftBank for $1.1 bn

Hyundai Motor Group and its chairman have agreed to buy a controlling stake in Boston Dynamics from SoftBank Group Corp in a deal that values the US-based robot maker at $1.1 billion.

The South Korean automaker group said on Friday the purchase would help it expand automation in its vehicle factories and design autonomous cars, drones and robots, as it seeks to turn itself from a manufacturer into a broader mobility service provider.  Hyundai Motor Group said the deal, which involves a new share issue, would give the firm.

This article is no longer available in our repository.

There could be multiple reasons for this.