Key Takeaways Hyundai senior management indicates Boston Dynamics public offering won’t occur in 2027 Atlas humanoid robot deployment remains limited with no large-scale commercial rollout Co
Boston Dynamics, the advanced robotics firm under Hyundai Motor Group’s ownership, will not pursue a stock market debut in 2027, a high-ranking Hyundai official with insider information has confirmed.
Exclusive: Boston Dynamics, Hyundai Motor Group's humanoid robot unit, is unlikely to pursue an initial public offering next year, as it has yet to deploy its flagship Atlas robots at scale and remains unprofitable. Read more – https://t.co/I4mlPoTcIo
— Reuters Tech News (@ReutersTech) September 14, 2026
The official pointed to unfavorable market conditions, specifically highlighting that the Atlas humanoid platform hasn’t achieved widespread commercial deployment and the business continues to operate in the red.
Industry observers believe a stock market listing won’t materialize until 2029 or possibly 2030. Meritz Securities analyst Kim Joon-sung explained that Hyundai must first accumulate substantial performance metrics and enhance the robots’ functional capabilities before pursuing external sales on a meaningful scale.
Hyundai has remained silent on specific timing or anticipated market valuation for any future public offering. The corporation declined to provide commentary when contacted.
Financial records show Boston Dynamics accumulated losses of 528.4 billion won during 2025. Combined deficits spanning 2021 to 2025 reached approximately 1.7 trillion won, based on disclosures from Hyundai Glovis, which maintains an 11% ownership position.
Market valuations for Boston Dynamics show considerable variation. Samsung Securities analysts estimate current market value falls between 50 trillion and 100 trillion won. IBK Securities projects potential worth of 141 trillion won by decade’s end, anticipating revenues approaching 11 trillion won at that time.
Hyundai’s stated objective includes establishing manufacturing facilities with annual capacity of 30,000 robots by 2028. The automaker intends to introduce humanoid machines at its Georgia manufacturing site that same year, followed by broader implementation throughout its global production facilities. Market analysts express doubts about achieving these milestones.
Kim Hyun-su, a principal investment manager at IBK Asset Management based in Seoul, suggested that substituting human assembly line workers with robots will require considerably more time than current projections indicate. He emphasized that choreographed demonstrations differ dramatically from the demanding requirements of factory floor operations involving heavy materials.
Tesla’s Elon Musk, currently developing the competing Optimus humanoid platform, has characterized humanoid robotics as the most challenging mass production undertaking his organization has ever attempted.
Hyundai acquired majority ownership of Boston Dynamics in 2021. This past July, the automotive giant revealed intentions to achieve complete ownership by purchasing SoftBank’s remaining 10% stake. Reports valued that transaction at approximately 500 billion won, equivalent to roughly $371 million.
Hyundai Motor stock has appreciated 25% year-to-date, although shares have retreated from peak levels reached earlier in 2026 following the commercial Atlas robot presentation in January at the CES technology conference in Las Vegas.
Current Boston Dynamics stakeholders include Hyundai Motor, Kia, Hyundai Mobis, Hyundai Glovis, and Executive Chair Euisun Chung of Hyundai Motor Group.
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