Hyundai Motor’s world chief working officer mentioned the South Korean automaker desires to develop its personal chips to cut back reliance on chipmakers.
A world scarcity of semiconductors, triggered partly by surging demand for laptops and different digital merchandise throughout the pandemic, has shuttered some auto manufacturing strains globally this 12 months.
Hyundai quickly suspended some factories, however the firm’s world COO Jose Munoz informed reporters the worst has handed for the trade chip scarcity, including Hyundai had the “hardest months” in August and September.
“The (chip) trade is reacting very, very quick,” Munoz mentioned, including Intel is investing some huge cash to broaden capability.
“But in addition in our case, we would like to have the ability to develop our personal chips inside the group, so we’re a bit bit much less dependent in a possible scenario like this,” he mentioned.
“This takes a variety of funding and time, however that is one thing we’re engaged on.”
He mentioned the corporate’s components affiliate Hyundai Mobis would play a key function within the in-house growth plan.
He additionally mentioned Hyundai Motor goals to ship autos on the degree of its unique marketing strategy within the fourth quarter, and offset a few of its manufacturing losses subsequent 12 months.
Together with Toyota and Tesla, Hyundai is amongst a handful of automakers which elevated world gross sales regardless of the chip scarcity.
Hyundai determined to not reduce orders throughout the pandemic, after seeing the Asian markets get better extra strongly than anticipated, Munoz mentioned.
Munoz, president of Hyundai Motor North America, mentioned the corporate is on observe to provide electrical vehicles in america in 2022, and is trying into each enhancing its current manufacturing facility in Alabama and growing its manufacturing capability.
He mentioned the U.S. authorities wants to increase a proposed $4,500 tax credit score incentive to U.S. electrical autos made at non-union factories in addition to union ones.
“American employees are the identical,” he mentioned. “We want this to be equal for all.”
U.S. factories of Tesla and international automakers equivalent to Hyundai and Toyota Motor will not be unionized.