The R & D expenses of the world's largest auto companies hit a record high in 2023: Volkswagen ranked first, BYD No. 9

CTOnews.com June 8 news, according to the Nikkei Chinese website reported that the global car research and development costs hit a new high. In 2023, the R & D spending of 17 major car companies reached about 11.8 trillion yen (CTOnews.com Note: currently about 602.98 billion yuan), an increase of 13% over the same period last year. The main reason for the growth is the most exciting part of the development of pure electric vehicles, batteries and in-car operating systems.

▲ Touyuan BYD includes 7 Japanese car companies (Toyota, Honda, Nissan, Suzuki, Mazda, Subaru, Mitsubishi) and 10 major car companies outside Japan (General Motors, Ford, Tesla, Volkswagen, Steelandis, BMW, Renault, Hyundai, Geely, BYD), while the data sources are the public information of each car company and the survey data of QUICK FaceSet.

In terms of R & D expenditure, the top 10 are as follows:

1. Volkswagen (Germany): research and development costs 2.26 trillion yen (currently about 115.486 billion yuan), accounting for 4.9% of revenue

2. General Motors (USA): research and development costs 1.39 trillion yen (currently about 71.029 billion yuan), accounting for 6.2% of revenue

3. Toyota (Japan): research and development costs 1.24 trillion yen (currently about 63.364 billion yuan), accounting for 3.3% of revenue

4. Ford (USA): research and development costs 1.18 trillion yen (currently about 60.298 billion yuan), accounting for 5.0% of revenue

5. Honda (Japan): research and development costs 980 billion yen (currently about 50.078 billion yuan), accounting for 5.4% of revenue

6. BMW (Germany): research and development costs 990 billion yen (currently about 50.589 billion yuan), accounting for 4.6% of revenue

7. Stellandis (Europe): research and development costs 890 billion yen (currently about 45.479 billion yuan), accounting for 3.2% of revenue

Nissan (Japan): research and development costs 580 billion yen (currently about 29.638 billion yuan), accounting for 4.7% of revenue

9. BYD (China): research and development costs 530 billion yen (currently about 27.083 billion yuan), accounting for 4.2% of revenue

10. Tesla (United States): r & D expenditure is 470 billion yen (currently about 24.017 billion yuan), accounting for 3.4% of revenue

(CTOnews.com Note: Honda ranks higher than BMW because of its higher actual cost because of its R & D expenditure.)

Overall, the share of R & D among car companies continues to rise amid uncertainties in global economic trends such as interest rate hikes and financial worries, indicating that large car companies are still further strengthening their investment. to ensure that they can stand out from the fiercer market competition.

For example, general motors, which ranked first in the list (6.2% in 2023), accounted for only 4.6% of its R & D spending in 2013. BYD's R & D spending this year is 18 times that of 10 years ago, with a rapid growth momentum. This also reflects that with the further strengthening of the trend of decarbonization, the R & D competition of electric vehicles is becoming increasingly fierce.