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“The (chip) industry is responding very, very quickly,†he said, saying Intel is investing a lot of money to increase capacity.
“But also in our case, we want to be able to develop our own chips within the group, so we’re a little less dependent in a potential situation like this,†he said.
“It takes a lot of investment and time, but it’s something we’re working on.”
He said that the company’s parts subsidiary Hyundai mobis would play a key role in the internal development plan.
He also said Hyundai Motor aims to deliver vehicles to its original business plan level in the fourth quarter and make up some of its production losses next year.
Along with Toyota and Tesla, Hyundai is one of a handful of automakers that have increased global sales despite the chip shortage.
Hyundai has decided not to cut orders during the pandemic, after seeing Asian markets recover more sharply than expected, Munoz said.
Munoz, who is also president of Hyundai Motor North America, said the company is on track to produce electric vehicles in the United States in 2022 and plans to both improve its existing plant in Alabama and increase capacity. of production.
He said the US government should extend a proposed $ 4,500 electric vehicle tax credit to vehicles manufactured in non-union factories as well as unionized factories.
“American workers are the same,†he said. “We would like it to be equal for all.”
US factories of Tesla Inc. and foreign automakers such as Hyundai and Toyota Motor Corp. are not unionized.
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