IPO for humanoid robot maker Boston Dynamics unlikely in 2027, executive says

• Boston Dynamics' estimated valuation ranges widely from 50 trillion won to 100 trillion won ($37-74 billion), with some analysts projecting it could reach 141 trillion won by 2030
• Hyundai plans to build a factory producing 30,000 robots annually by 2028 and deploy humanoid robots at its Georgia plant that year, though analysts view these targets as ambitious
• The company posted a 2025 loss of 528.4 billion won and cumulative losses of nearly 1.7 trillion won since Hyundai acquired a controlling stake in 2021

Summary: Boston Dynamics IPO Unlikely in 2027

Boston Dynamics, Hyundai Motor Group's humanoid robotics unit, is unlikely to pursue an IPO in 2027, according to a senior Hyundai executive. The company has yet to deploy its flagship Atlas robots at scale and remains unprofitable, suggesting a stock market debut may still be years away.

Key Financial Data:

• Boston Dynamics recorded a 2025 loss of 528.4 billion won ($393 million)
• Total losses from 2021-2025: nearly 1.7 trillion won ($1.26 billion)
• Estimated valuation range: 50-100 trillion won ($37-74 billion)
• IBK Securities projects a potential 141 trillion won valuation by 2030, with expected revenue of 11 trillion won

Company Background:

Hyundai acquired a controlling stake in the U.S.-based Boston Dynamics in 2021 and announced plans in July to buy out SoftBank's remaining 10% stake for approximately 500 billion won ($371.51 million). The Atlas robot was unveiled at CES 2026 in Las Vegas in January.

Market Implications:

Analysts predict an IPO is more realistic for 2029-2030, as the company needs to demonstrate scaled manufacturing and deployment capabilities. Hyundai plans to build a factory producing 30,000 robots annually by 2028 and deploy humanoid robots at its Georgia plant that same year.

Industry experts remain skeptical about near-term commercialization, noting the significant challenges in deploying humanoid robots for heavy manufacturing tasks. Tesla CEO Elon Musk has called humanoid robots "the hardest product to scale manufacturing."

Hyundai Motor shares are up 25% year-to-date, though lagging the broader Korean market's 60% surge, as robotics becomes a key growth driver for the automaker.