The problem facing automotive manufacturers in the world today is the scarcity of semiconductor chips. These small components are very crucial in a vehicle. Its function is to support digital-based entertainment and security features.
The shortage of semiconductor chips is expected to last indefinitely. To address the global shortage of chips, Hyundai will reportedly develop the components themselves, without using vendors.
This has been confirmed by Hyundai at the Consumer Electric Show (CES) which took place in Las Vegas, United States. “We want to control our own destiny,” said Jose Munoz, Chief Operating Officer (CEO) of Hyundai Motor Global and President of the North America Unit.
Jose Munoz explained that the South Korean manufacturer was not the only one who decided to carry out this strategy. All companies will work individually and it is unknown how each company will work.
Hyundai will most likely join technology partners to work together specifically to deliver its own semiconductor chips. “For now, several approaches are being considered,” Munoz said.
To note, currently a number of car manufacturers around the world disrupted production, due to the scarcity of this component. Even the automotive giant Toyota chose to temporarily stop the production of some of its variants.