VW invested over $15 billion in R&D last year image

According to a study issued by PricewaterhouseCoopers, Volkswagen has spent more money last year on its research and development programs than any other automaker.

Even if Volkswagen has to put aside billions of dollars to manage the financial repercussions of the diesel emissions scandal, the German automaker emerged as the top spender company of the auto industry in terms of research and development projects, and by a long distance as well. The study made by PricewaterhouseCoopers ranked 1,000 public companies by the size of their research budgets and, according to its data, Volkswagen spent 15.3 billion dollars in the area, while Toyota was second at 9.2 billion dollars and Daimler was third with 7.6 billion dollars. The auto industry’s top 20 list for last year has some new names, with China’s SAIC Motor at 19th and Kia Motors at 20th. The automotive suppliers have also heavily invested into research and development, with Denso Corp being the top company posting expenses of 3.6 billion dollars, followed by Continental AG and Aisin Seiki. Robert Bosch GmbH was not included in the study, as the firm is not a publically trading one.

PricewaterhouseCoopers also made a poll among top executive asking which companies are the most innovative ones. Apple and Google have evidently been chosen as the top ones, while the electric carmaker Tesla debuted on the third in the rankings and Toyota entered the top 10 list. As for the main regions in the R&D field, Europe was pushed back on third by Asia and North America, an expected trend considering that automakers, similarly to other industries, are focusing more and more on regions which are being forecast to grow further.

Via Automotive News