HYUNDAI TO DEVELOP ITS OWN CHIPS

Hyundai Motor has become the latest automaker to announce plans to develop its own semiconductor chips in order to reduce reliance on chipmakers, according to the company’s global chief operating officer, José Munoz.As car sales fell during the pandemic, automakers paused their orders just as electronics manufacturers began ramping up production, and snapping up the existing supply of chips, to meet the raised demand in laptops and gaming consoles.