People familiar with the matter said on Monday that SoftBank Group is negotiating to try to sell the robotics company Boston Dynamics to Hyundai Motor.
An insider revealed that according to the agreement, Hyundai Motor of South Korea will obtain control of Volatility Power, with a transaction value of approximately US$1 billion. However, the agreement has not been finalized, and the transaction may fail.
Hyundai Motor said in an email statement: "The company will continue to explore various investment and cooperation opportunities." Boston Dynamics said that partners are still excited about the company's work, and these partners are interested in deepening business cooperation.
In the early 1990s, Boston Dynamics separated from MIT and maintained an independent operation. In 2013, it was acquired by Google. In 2017, Google sold it to SoftBank Group. Boston Dynamics is more like a research institution than a company. The robots it studies are indeed very advanced, but the company has not yet made a profit. Hyundai also manufactures robots, but these robots are highly practical factory industrial robots.