South Korea: South Korea’s Hyundai Motor Group is unlikely to take its humanoid robotics unit Boston Dynamics public in 2027, a senior Hyundai executive said, as the company has yet to deploy its Atlas robots at scale and remains unprofitable.
The executive said an IPO next year would be difficult, while Hyundai has not announced a timetable or valuation target for a potential listing. Investor interest in Boston Dynamics has increased following the unveiling of its updated Atlas robot.
Why Is the Boston Dynamics IPO Delayed?
Boston Dynamics has not yet deployed humanoid robots widely in industrial operations. Hyundai plans to build a factory capable of producing 30,000 robots annually by 2028 and begin deploying Atlas robots at its U.S. manufacturing plant in Georgia that year.
Analysts said the company may need several more years to collect operational data, improve robot capabilities and establish wider commercial demand before pursuing an IPO.
How Much Could Boston Dynamics Be Worth?
Estimates of Boston Dynamics’ potential valuation vary widely, with Samsung Securities placing it between 50 trillion won and 100 trillion won. Meritz Securities expects an IPO could come around 2029 or 2030.
Boston Dynamics reported a loss of 528.4 billion won in 2025, while its cumulative losses from 2021 through 2025 approached 1.7 trillion won. Hyundai Motor Group has been expanding its robotics business as part of its broader growth strategy.