Hyundai Manufacturing Computer Chips
Many industries have experienced the consequences of the chip shortage, and Hyundai is taking the matter into its own hands as they will soon begin to make their own.
"There are up to 1,400 chips in a typical vehicle today, and that number is only going to increase as the industry continues its march towards electric vehicles, ever-more connected vehicles and, eventually, autonomous vehicles," Dan Hearsch, a managing director in the consulting firm AlixPartners' automotive and industrial practice, said in a statement. "So, this really is a critical issue for the industry."
AlixPartners has speculated that the crisis will be over, and the supply will be almost "back to normal" by the end of 2021. However, another consulting firm, Seraph Consulting, has said, "the chip shortage continues to get worse, and at this point, we're going to go through 2023". They expect this ordeal to cost the automotive industry $450 billion in global sales from the start of the crisis to the end of 2022.
Pat Gelsinger, the chief executive of Intel, has said he expects shortages to last into 2023.
Hyundai's semiconductors will be used in a car to be launched next year.