Economy, Auto

BMW to Increase R&D Spending

BMW to Increase  R&D SpendingBMW to Increase  R&D Spending

BMW will boost spending on research and development next year, to 6.5-7% of sales, its finance chief, Nicolas Peter, told the German daily Handelsblatt. “That is a lot of money, in absolute numbers it is around €7 billion ($8.3 billion), which is nearly as much as we spent in 2011 and 2012 combined,” the newspaper quoted Peter as saying in an interview published on Monday, Automotive News reported. “Spending will remain high in 2019 as well,” he said. Peter had indicated earlier this year that R&D spending would rise to cope with demand for lower emissions, electrified cars and autonomous driving technology.

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