Hyundai Motor shares closed at 367,000 won on the 15th, down 51% from their June 1 peak of 750,000 won, as expectations for a near-term Boston Dynamics IPO and robotics-related growth faded. Reuters, citing a senior Hyundai Motor Group official, reported that a 2026 listing would not be easy, while Hyundai said it has never specified an IPO timeline. Atlas is scheduled for large-scale deployment at Hyundai Motor Group Metaplant America in 2028, delaying visible commercial results. Boston Dynamics posted a net loss of 528.4 billion won last year, and cumulative net losses from 2021 through 2025 reached 1.7558 trillion won. Analysts say the larger valuation issue is the robotics business's profitability, investment payback period and rising research and development and capital spending. Boston Dynamics is building annual production capacity of 30,000 units by next year, while Atlas validation costs are estimated at about $450,000 per unit and could reach five to 10 times existing levels. Hyundai plans to use its own factories to validate Atlas before expanding into broader manufacturing and logistics applications. Securities firms have projected valuations of up to 141 trillion won by 2030 and 128 trillion won by 2035, conditional on successful mass production and sales growth.