Hyundai Motor COO: "We Want to Develop Car Semiconductors In-House... Hyundai Mobis Plays a Key Role"

Jose Munoz COO "Semiconductor Development Requires Significant Investment and Time but Is a Field Worth Investing Effort In"

[Asia Economy Reporter Yu Je-hoon] Jose Munoz, Chief Operating Officer (COO) and President of the North America Regional Headquarters at Hyundai Motor Company, stated on the 13th (local time) that he hopes to develop in-house semiconductor chips to reduce dependence on vehicle semiconductor manufacturers.

According to major foreign media, Munoz said at a meeting with foreign reporters that although the worst situation caused by the shortage of vehicle semiconductors has passed, August and September were the "most difficult months."

Munoz also mentioned that the related industry is responding very quickly, with Intel making large-scale investments to increase production, and reiterated, "Hyundai Motor also wants to develop our own chips within the group."

Regarding semiconductor development, he said, "It requires a lot of investment and time, but this is an area we are focusing on," adding that Hyundai Mobis, a parts affiliate, is expected to play an important role in in-house semiconductor development in the future.

Meanwhile, Munoz said that regarding production disruptions caused by COVID-19, vehicle deliveries in the fourth quarter are expected to be at the originally planned level. He also forecasted that this could offset some of the production shortfalls for next year.