Humanoid robot firm Boston Dynamics faces delayed public listing
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Boston Dynamics, Hyundai Motor Group's humanoid robot unit, is unlikely to pursue an initial public offering next year, a senior executive at the parent company with direct knowledge of the matter said, as it has yet to deploy its flagship Atlas robots at scale and remains unprofitable. The executive's comments suggest a stock market debut for the US-based robotics company may still be years away, despite investor enthusiasm for Hyundai's robotics ambitions, which helped send automaker Hyundai Motor (005380.KS) shares to record highs earlier this year. "It won't be easy," the executive said when asked whether an IPO was possible next year. "We need to see conditions and situations," he added, without elaborating. He asked not to be named publicly because the matter is confidential. Hyundai Motor Group has not publicly disclosed a timetable or valuation target for a potential Boston Dynamics listing. The group did not immediately respond to a request for comment. Boston Dynamics was not available for comment outside business hours. Since the unveiling of the updated Atlas robot in January at the Consumer Electronics Show in Las Vegas, investors and analysts have closely watched whether the company would pursue a US IPO for Boston Dynamics to help finance its growth. Analysts have published estimates for the company's sales growth and potential valuations due to...
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