Boston Dynamics is unlikely to pursue an initial public offering in 2027, with Hyundai Motor Group instead focused on expanding production and commercial use of its humanoid robots.
A senior Hyundai executive familiar with the situation said a listing next year would be difficult, although the executive did not give a specific timeline. Hyundai has not publicly disclosed a target date or valuation for a potential Boston Dynamics IPO.
Investor interest in the robotics company has grown following the introduction of an updated version of its Atlas humanoid robot. However, the robots have not yet been deployed on a large scale, and Boston Dynamics continues to operate at a loss.
Hyundai took a controlling stake in Boston Dynamics in 2021. In July, the automaker announced plans to acquire SoftBank’s roughly 10% holding, making the robotics company wholly owned by Hyundai at an undisclosed valuation. Media reports put the value of the transaction at about 500 billion won, or $371.51 million.
As part of its expansion plans, Hyundai aims to build a factory capable of producing 30,000 robots each year by 2028. The group also plans to start deploying humanoid robots at its U.S. manufacturing facility in Georgia in 2028, followed by broader adoption across its manufacturing network.
Analysts remain cautious about the pace at which humanoid robots can become broadly useful in industrial environments. Samsung Securities has estimated Boston Dynamics’ value at between 50 trillion won and 100 trillion won. Another analyst has suggested that an IPO could be more likely in 2029 or 2030.
Boston Dynamics reported a loss of 528.4 billion won in 2025, while its combined losses from 2021 through 2025 neared 1.7 trillion won.
The figures and deployment plans indicate that the company is concentrating on strengthening operations and expanding the use of its robots before moving toward a public-market listing.
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