Boston Dynamics faces difficulty completing an initial public offering by 2027 because its Atlas humanoid robot has not entered large-scale commercial deployment and the company remains unprofitable, a Hyundai Motor Group executive said. The executive said a listing next year would not be easy, and Hyundai has not disclosed a timetable or valuation target. The robotics division lost 528.4 billion won, approximately $392.6 million, in 2025, bringing cumulative losses from 2021 through 2025 to nearly 1.7 trillion won. Hyundai aims to build annual capacity for 30,000 Atlas robots by 2028 and deploy more than 25,000 units across Hyundai Motor and Kia facilities, starting at its Georgia plant in the United States. Analysts have questioned those targets and see a potential IPO in 2029 or 2030, while valuations range widely amid pressure on humanoid robot makers to demonstrate recurring revenue, technological progress and reduced losses.