Hyundai Motor expects vehicle production to rebound in H1 as chip supply improves

FILE PHOTO: The logo of Hyundai Motors is seen at the company's headquarters in Seoul, South Korea, March 22, 2019. REUTERS/Kim Hong-Ji

SEOUL (Reuters) -South Korea's Hyundai Motor Co forecast on Tuesday its vehicle production would rebound in the first half of this year as a global chip shortage is expected to ease gradually from the second quarter.

"The normalization of auto chip supply and demand is expected in the third quarter, when the capacity of semiconductor companies is expected to rise," Executive Vice President Seo Gang Hyun said on Hyundai's conference call.