Hyundai Motor aims to develop chips, cut reliance on chipmakers

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Hyundai logo is seen during Munich Auto Show, IAA Mobility 2021 successful Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay

SAN FRANCISCO, Oct 13 (Reuters) - Hyundai Motor's (005380.KS) planetary operating serviceman said connected Wednesday the automaker wants to make its ain chips to trim reliance connected chipmakers.

A planetary shortage of semiconductors, triggered partially by surging request for laptops and different physics products during the pandemic, has shuttered immoderate car accumulation lines globally this year. work much

Hyundai temporarily suspended immoderate factories, but the company’s planetary main operating serviceman Jose Munoz told reporters the worst has passed for the manufacture spot shortage, adding it had the "toughest months" successful August and September.

"The (chip) manufacture is reacting very, precise fast," helium said, saying Intel (INTC.O) is investing a batch of wealth to grow capacity.

"But besides successful our case, we privation to beryllium capable to make our ain chips wrong the group, truthful we are a small spot little babelike successful a imaginable concern similar this," helium said.

"This takes a batch of concern and time, but this is thing we're moving on."

He said the company's parts affiliate Hyundai Mobis (012330.KS) would play a cardinal relation successful the in-house improvement plan.

He besides said Hyundai Motor aims to present vehicles astatine the level of its archetypal concern program successful the 4th quarter, and offset immoderate of its accumulation losses adjacent year.

Reporting by Hyunjoo Jin; Editing by Chris Reese and Jan Harvey

Our Standards: The Thomson Reuters Trust Principles.

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