Hyundai Motor Group Launches Boston Dynamics AI Institute to Spearhead Advancements in Artificial Intelligence & Robotics

• · Hyundai Motor Group and Boston Dynamics to invest over $400 million to establish the new institute
• · The Institute, led by founder of Boston Dynamics Marc Raibert, to invest resources across the technical areas of cognitive AI, athletic AI and organic hardware design, with each discipline contributing to progress in advanced machine capabilities
• · The Institute to recruit talent in diverse areas, including AI and robotics research, and software and hardware engineering, as well as to partner with universities and corporate research labs

SEOUL/CAMBRIDGE, MA, August 12, 2022- Hyundai Motor Group (the Group) today announced the launch of Boston Dynamics AI Institute[1](the Institute), with the goal of making fundamental advances in artificial intelligence (AI), robotics and intelligent machines. The Group and Boston Dynamics will make an initial investment of more than $400 million in the new Institute, which will be led by Marc Raibert, founder of Boston Dynamics.

As a research-first organization, the Institute will work on solving the most important and difficult challenges facing the creation of advanced robots. Elite talent across AI, robotics, computing, machine learning and engineering will develop technology for robots and use it to advance their capabilities and usefulness. The Institute's culture is designed to combine the best features of university research labs with those of corporate development labs while working in four core technical areas: cognitive AI, athletic AI, organic hardware design as well as ethics and policy.

"Our mission is to create future generations of advanced robots and intelligent machines that are smarter, more agile, perceptive and safer than anything that exists today," said Marc Raibert executive director of Boston Dynamics AI Institute. "The unique structure of the Institute - top talent focused on fundamental solutions with sustained funding and excellent technical support - will help us createrobots that are easier to use, more productive, able to perform a wider variety of tasks, and that are safer working with people."

To achieve such advances, the Institute will invest resources across the technical areas of cognitive AI, athletic AI and organic hardware design, with each discipline contributing to progress in advanced machine capabilities. In addition to developing technology with its own staff, the Institute plans to partner with universities and corporate research labs.

The Institute will be headquartered in the heart of the Kendall Square research community in Cambridge, Massachusetts. The Institute plans to hire AI and robotics researchers, software and hardware engineers, and technicians at all levels.

Please visit https://www.bdaiinstitute.com/ for more information and to submit interest in working with the Institute.

In addition to the Institute, Hyundai Motor Group separately announced plans to establish a Global Software Center to lead development of its software capabilities and technologies and to enhance its capabilities to advance development of Software Defined Vehicles (SDVs). The Center will be established on the basis of 42dot, an autonomous driving software and mobility platform startup recently acquired by the Group.

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About Boston Dynamics AI Institute
The Boston Dynamics AI Institute aims to solve the most important and fundamental problems in AI and robotics. Headquartered in Cambridge, Massachusetts, the research-driven organization unites elite talent in AI, robotics, machine learning, software and engineering to develop future generations of intelligent machines. The Institute's culture is designed to combine the best features of university research labs with the best features of corporate development labs. Rather than work in all areas of AI, the Institute focuses on four core technologies: cognitive AI, athletic AI, organic hardware design and ethics and policy. Led by Marc Raibert, the Institute develops machines that improve industrial productivity, contribute to human safety, care for the disabled, and help people live their lives more fully. For more information, please visit: https://www.bdaiinstitute.com/ .

About Hyundai Motor Group

Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, construction, logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group's mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.

For more information about Hyundai Motor Group, please see: www.hyundaimotorgroup.com

[1]The name of organization may be changed at the time of corporate registration.

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