Hyundai intends to develop its own chips to reduce its dependence on manufacturers. In our case we also want to be able to develop our own chips within the group, to be a little less dependent in situations like this, ”explained José Muñoz, Hyundai COO, on Wednesday, October 13, 2021.
“It takes a lot of investment and time, but it is something we are working on,” he added, according to statements released by Reuters. Hyundai Mobis, its subsidiary that focuses on parts and services, will play a key role in this internal development plan.
The semiconductor shortage
José Muñoz mentioned the shortage of semiconductors, in particular due to a drop in demand from automakers during the pandemic and an increase in demand from electronics manufacturers. Subsequently, the founders were unable to respond to increased demand coinciding with the resumption of production after the first containment and increased enthusiasm for electric vehicles.
“The semiconductor industry reacts very, very fast,” said José Muñoz, citing the example of Intel, which is investing a lot of money and strengthening its production capabilities. However, this shortage has led automakers to shut down certain production lines. For Hyundai, the hardest months were August and September, according to José Muñoz, who added that the hardest thing with respect to this chip shortage has passed.
Volkswagen is working on that too
The Korean manufacturer aims to reach a production level corresponding to its business plan during the fourth quarter. Along with Toyota and Tesla, Hyundai is one of the manufacturers that has increased its global sales despite these shortages. The manufacturer decided not to reduce its orders during the pandemic after seeing Asian markets rebound stronger than expected.
Volkswagen has also announced that it wants to design and develop, but not produce itself, a high-performance chip to equip its autonomous vehicles. A General Motors China joint venture has also announced that it wants to develop its own chips without detailing their potential use. Hyundai has also not provided much information on these chips from the house it intends to develop.
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