Hyundai to boost production at plants
ABB CEO chipmaker supply commitments improve
ABB CEO commodity prices coming down
Electrolux CEO supply situation returning to normal
Nokia expects supply shortage to ease

ZURICHSTOCKHOLM, July 21 Reuters Hyundai Motor Co, factory robot builder ABB and Swedish fridge maker Electrolux see the semiconductor chip shortage easing, executives said Thursday, in a boost for manufacturers after a long struggle for components.

An increased supply of chips will reduce one burden facing an industry that is also battling raw material price inflation, a tight energy market and rising interest rates that are throwing a dampener on consumer demand.

Hyundai turned in its best quarterly profit in eight years on Thursday as a weak won currency lifted the value of its earnings abroad and demand stayed strong for the South Korean automaker39;s highmargin sport utility vehicles SUVs.

The carmaker was also boosted by the easing of a global chip shortage, which helped it resume overtime and weekend shifts at domestic plants. It now plans to step up vehicle production in the second half to meet consumer demand.

ABB, a big supplier to the automotive industry, said semiconductor chip bottlenecks were now easing as it reported its second quarter earnings. 

The Switzerlandbased company, which competes with Germany39;s Siemens and France39;s Schneider Electric, is seen as a barometer of the global economy with its control systems and motors used in the…