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Autonomous & Electric MobilityAV/EM NewsElectrification

Tesla Leads the Way on R&D Spending

Tesla.jpg
March 25, 2022
LONDON—Automakers spend millions of dollars on advertising, marketing and public relations. But, not Tesla. Instead, the company pours money into research and development efforts.
In fact, Tesla spends more on R&D than any other automaker. According to data compiled by StockApps.com, the company spends $2,984 on R&D per car produced. That’s three times the industry average of roughly $1,000 per car and higher than the collective R&D budgets of Ford, GM and Stellantis per car.
By comparison, Ford Motor Co. spent an average of  $468 on advertising in 2020 vs. $1,186 on R&D. Toyota Motor Corp. spent $454 vs. $1,063 and General Motors spent $394 vs. $878.
KEYWORDS: electric vehicles research and development (R&D) Tesla

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