Global vehicle manufacturer giant Hyundai Motors has announced that the company will be manufacturing its own chips rather than relying on chipmakers for their products. 

With the heightening demand for laptops and other electronics during the pandemic, a global shortage on chips has affected the markets, closing multiple auto production lines this year - that includes some belonging to Hyundai. 

However, rising from difficult times - especially August and September - the company is keen on developing their own chips, according to the global chief operating officer (COO), Jose Munoz. 

"The (chip) industry is reacting very, very fast," Munoz said, adding Intel is investing 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."

After witnessing the recovery of Asian markets, the company had decided not to cut down the orders during the pandemic, restoring confidence in the market.