Research and Development Costs of General Motors 2007-2017
The automotive industry is a highly competitive industry. Due to the intense competition every brand invests in research and development to remain competitive and find faster growth. Brands are continuously investing in innovative technologies like AI and autonomous driving. The R&D costs at General Motors are primarily related to the development of new products and technologies or improvement of existing products and services like emissions control, improving fuel economy and safety of drivers. these activities are intended to improve the efficiency of the GM vehicles. The market situation has kept changing fast and the customers want vehicles that are more fuel efficient and safer to drive. The brand invests in R&D to bring innovative mobility solutions to the market. The table below shows the R&D expenses of General Motors over the period from 2007-2017. The brand invests quite a large sum on research and development. In 2017, its investment in R&D was 7.3 Billion dollars which was 700 million dollars higher than the previous year’s R&D investment.
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This data is sourced from the annual reports of General Motors available at its investors website.