The Chief Operating Officer of Hyundai Motor revealed earlier this week that the company is planning on developing its own chips. This move arrives amid the global chip shortage as the company seeks to reduce its reliance on chipmakers.
For those unaware, the world is facing a shortage of semiconductors that has impacted various industries across the globe, including the automobile industry. The shortage even led to certain carmakers halting production entirely due to supply constraints. Now, the South Korean automobile maker, Hyundai, is apparently seeking to develop its own chips to cut off its dependence on chipmakers. The news comes after the company saw the “toughest months” in August and September 2021 (Via Reuters).
The company’s COO Jose Munoz stated that the worst has passed for the industry chip shortage. He further added that “But also in our case, we want to be able to develop our own chips within the group, so we are a little bit less dependent in a potential situation like this. This takes a lot of investment and time, but this is something we’re working on.”
The senior official said that the company is also aiming on delivering vehicles at the level of its original business plan in the fourth quarter of this year. Furthermore, the South Korean automobile manufacturer is also on track to produce electric cars in the US in 2022. Hyundai Motor is one among many other car brands like Tesla and Toyota that faced supply constraints amid the global semiconductor shortage.
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