Dec 11, 2020 - Economy & Business

Hyundai's sprint toward future mobility

Spot, the robot made by Boston Dynamics. Photo: Henrique Casinhas/SOPA Images/LightRocket via Getty Images
Spot, the robot made by Boston Dynamics. Photo: Henrique Casinhas/SOPA Images/LightRocket via Getty Images

Hyundai continues to make aggressive moves as it races to catch up on electric, self-driving cars and other mobility technologies.

The latest: The Korean industrial giant and its chairman agreed to buy an 80% stake in Boston Dynamics — maker of Spot, a four-legged, dog-like robot — from SoftBank.

  • Hyundai could use the robotic technology in its factories, and to continue development of its self-driving cars, drones and delivery robots, analysts told CNBC.

The big picture: It's the latest in a flurry of deals by Hyundai, which wants to transform itself into a mobility service provider.

  • At an investor day Thursday in Seoul, Hyundai updated its 2025 strategy to accelerate electrification, lay the foundation for mobility as a service, and boost its commitment to hydrogen fuel cells.
  • The detailed plan includes a new dedicated fuel cell brand, HTWO, and the rollout of Level 3 autonomous vehicles — hands-free, eyes-off-the-road under certain circumstances — by 2022.
  • The company plans to invest $55 billion by 2025 to support long-term growth.
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