Hyundai to produce its own chips from now
Web Desk BOL News
14th Oct, 2021. 03:02 pm
The South Korean automotive manufacturer, Hyundai Motors has recently announced to manufacture its semiconductor chips from now onwards. The company has taken this decision so as to become more self-reliant and least dependent on various chipmakers.
The automobile manufacturers halted their production as the demand for cars dropped during pandemic, while simultaneously electronics manufacturers began ramping up their supplies of laptops and computer systems following a raise in its demand, consuming more chips than ever. As soon as the purchasing power for vehicles began to skyrocket post pandemic, the automakers started facing the chip shortage.
Moreover, the need for chips has become stronger since many OEMS have announced to go electric in future. Hyundai Motors on the other hand, has decided to follow the suite of Tesla and General Motors by planning to reduce reliance on chipmakers and develop its own instead.
