Hyundai Motor working on developing its own chips in-house
The automotive industry has taken a hard hit from the current semiconductor shortage. One automaker that's had enough is South Korea's Hyundai Motor, who is now looking to develop its on semiconductor chips in order to cut reliance on others.
While Hyundai Motor' COO, Jose Munoz, believes the worst has passed for the industry, the company still had to temporarily suspend some of its production facilities. The COO told Reuters that the company saw its "toughest months" in August and September. The executive is pointing to the fast movement within the semiconductor industry, and mentions Intel's latest investment to expand capacity. Nonetheless, Munoz told Reuters that the company still needs to be more self-reliant. "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," he told the news agency. However, developing semiconductors in-house does take a lot of time and significant investments – something that the COO acknowledged, but also stating that it's “something we’re working on.” Hyundai's parts affiliate, Hyundai Mobis was also pointed out as a key player in the groups in-house development plan.