“It won’t be easy,” the executive said when asked whether a listing could happen next year. Hyundai has not publicly set an IPO timetable or valuation target for Boston Dynamics, and neither company commented on the report.
The comments follow Hyundai’s July decision to acquire SoftBank’s remaining roughly 10% stake in Boston Dynamics and make the robotics company wholly owned. Media reports at the time valued that transaction at approximately ₩500 billion, or $372 million.
Boston Dynamics recorded a ₩528.4 billion loss in 2025, according to a Hyundai Glovis filing cited by Reuters. Its cumulative losses from 2021 through 2025 reached nearly ₩1.7 trillion.
Hyundai’s existing commercialization plan calls for production capacity of 30,000 robots annually by 2028. Atlas is scheduled to begin working at Hyundai’s manufacturing plant in Georgia that year, initially handling parts-sequencing tasks, before expanding into component assembly and other manufacturing work from 2030. Hyundai announced that roadmap at CES in January.
Analyst estimates for Boston Dynamics’ valuation vary widely. Samsung Securities cited market estimates of ₩50 trillion to ₩100 trillion, while IBK Securities has estimated a possible ₩141 trillion valuation by 2030. A Meritz Securities analyst told Reuters that an IPO may be more realistic in 2029 or 2030, after Hyundai has accumulated operational data from Atlas deployments and expanded the robot’s capabilities.
