Boston Dynamics is unlikely to hold an IPO in 2027 — Cyprus Mail
In the United States, robotics company Boston Dynamics, which is part of Hyundai Motor Group, is unlikely to conduct an initial public offering in 2027. As Cyprus Mail reports, the company has not yet deployed Atlas humanoid robots on a large scale and remains loss-making.
A senior Hyundai Motor Group official familiar with the matter said that Boston Dynamics' stock market debut could take place only in several years. Hyundai has not disclosed a timetable for a possible listing or a target valuation for the company.
Robot production plans
Hyundai plans to build a plant by 2028 capable of producing 30,000 robots per year. In the same year, the group intends to begin using humanoid robots at its facility in Georgia, and later expand their use across its manufacturing network.
Analysts believe that the large-scale use of humanoid robots at factories remains a difficult task for now. Kim Hyun-soo, a senior fund manager at IBK Asset Management, noted that the challenge lies not in the robots' demonstration capabilities, but in carrying heavy loads and working in manufacturing processes.
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Losses and possible IPO timing
According to Hyundai Glovis reporting, which owns approximately 11% of Boston Dynamics, the company recorded a loss of 528.4 billion won in 2025. Boston Dynamics' cumulative losses for 2021–2025 totaled nearly 1.7 trillion won.
Hyundai acquired a controlling stake in Boston Dynamics in 2021. In July, the group announced its intention to acquire approximately 10% of shares from SoftBank in order to make Boston Dynamics a wholly owned Hyundai subsidiary. According to media reports, the value of this deal could have amounted to about 500 billion won.
Estimates of Boston Dynamics' value vary significantly: Samsung Securities valued it at between 50 trillion and 100 trillion won. Meritz Securities analyst Kim Jun-sung suggested that the company's IPO is more likely to take place in 2029 or 2030, after data on robot operations has been accumulated and their capabilities improved.
