Reports indicate that Boston Dynamics may be preparing for another change in ownership, as detailed in a recent Bloomberg article citing sources with knowledge of the situation.

This potential transaction would mark the third time in seven years the robotics company has been sold, following previous acquisitions by Google and SoftBank Group. Boston Dynamics has gained widespread recognition both within and beyond the robotics industry for developing highly sophisticated robotic systems, such as BigDog and the humanoid robot Atlas.

A representative for Hyundai stated the company does not provide commentary on market rumors, but added, “Hyundai Motor consistently evaluates a variety of investment and partnership possibilities as a global enterprise.”

Neither Softbank nor Boston Dynamics have offered a response to requests for a statement.

Since joining SoftBank in 2017, Boston Dynamics has focused on bringing its products to market, shifting from a long-standing emphasis on military and research applications. The company’s Spot robot became available for purchase last year and has been utilized in diverse scenarios, including deployments at the Chernobyl site in Ukraine, with the New York Police Department, and in telemedicine applications.

The company is also developing its Handle robot on wheels for use in warehouse logistics, a development likely to attract interest from prospective buyers given the ongoing COVID-19 pandemic. However, scaling these advanced – and expensive – technologies presents significant challenges, requiring patient investors with substantial financial resources. SoftBank has encountered financial difficulties this year, including unsuccessful investments such as WeWork.

While SoftBank has involvement in the robotics field – notably through Aldebaran Robotics, the creator of Pepper – Hyundai’s strategic objectives align more closely with the work of Boston Dynamics. A recent example is Hyundai’s Ultimate Mobility Vehicles, which feature a futuristic design and integrate conventional transportation with adaptable robotic technologies.

Over the past year, Hyundai has demonstrated growing interest in both automated vehicle technology and robotics. The company established a joint venture with Aptiv, a developer of autonomous driving technology, with each company holding a 50% stake in the newly formed entity, Motional. This venture aims to create Level 4 and Level 5 self-driving systems ready for production and commercial use, with plans to offer them to robotaxi services, fleet operators, and other automotive manufacturers by 2022.

The initial combined investment in the joint venture from both companies reached a total of $4 billion, encompassing the value of combined engineering services, research and development, and intellectual property, as stated by Aptiv and Hyundai. Testing of their fully autonomous systems is scheduled to begin in 2020 to meet the 2022 commercialization goal.

Hyundai continues to invest in autonomous vehicle technology. In October 2019, the automaker pledged to invest 41 trillion South Korean won ($35 billion) in “future mobility technologies” by 2025. While a significant portion of these funds will be allocated to electrifying its vehicle lineup, Hyundai specifically intends to invest in autonomous vehicles and other emerging mobility technologies.