“The (chip) industry is reacting very, very fast,” he said, saying Intel is investing a lot of money to expand capacity.
“But also in our case, we want to be able to develop our own chips within the group, so we are a little bit less dependent in a potential situation like this,” he said.
“This takes a lot of investment and time, but this is something we’re working on.”
He said the company’s parts affiliate Hyundai Mobis would play a key role in the in-house development plan.
He also said Hyundai Motor aims to deliver vehicles at the level of its original business plan in the fourth quarter, and offset some of its production losses next year.