The international auto company Hyndai Motor announced plans to develop and produce its own semiconductor chips. This move is part of the company to take the future in its own hands and to reduce the reliance of chipmakers.
Automakers and electronic manufactures sales fell flat due to shortage of chips across the world. Now these companies are doing whatever it takes to get out of the words.
Speaking to Reuters, Hyndai global chief operating officer, José Munoz said “While Hyundai’s sales this past quarter didn’t suffer too much, Munoz did say the “toughest months” were August and September.”
The South Korean automaker had to temporarily shut down some factories this year, but Munoz said the worst had passed for the chip shortage, citing Intel’s massive investments to expand capacity.
Nonetheless, Munoz told reporters Hyundai doesn’t want to get caught without a supply again and needs to be more self-reliant in the space. He acknowledged that developing chips in-house would take a lot of time and investment, but that it’s “something we’re working on,” most likely in conjunction with Hyundai Mobis, the company’s parts affiliate.