Hyundai Motor has so far avoided a chip shortage that has plagued global automakers, largely maintaining its stockpile of chips last year and even accelerating purchases toward the end, three people with knowledge of the matter said.
The shortage has forced production cuts worldwide, including at Volkswagen and General Motors, prompting Germany and the United States to ramp up efforts to resolve the shortage.
Other than Japan's Toyota Motor, which said this month it had enough chip inventory to last it about four months, Hyundai and its sister firm Kia Corp. are the only global automakers to have maintained a stockpile of low-tech chips that helped them keep up production.