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Goldman Is ‘Doubling Down’ on Technology Investing, Dees Says

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Hyundai Motor plans to develop its own chips

Hyundai Motor is 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, Jose 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. When consumers started buying vehicles again, automakers were met with a global semiconductor shortage that has led to most OEMs — apart from Tesla and Toyota — idling production lines that caused a dip in car sales.

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