European Automotive suppliers spent more than 26€ billion in R&D during 2017
The annual investment into R&D by the automobile and parts sector has risen by 7.4% to reach an all-time high of €53.8 billion, according to the European Automobile Manufacturers’ Association Link
This figure reflects on the increase of the automotive suppliers share, where the investment raises up to more than 26€ billion. CLEPA estimates that in the upcoming years, the expenditure of the automotive suppliers, which now accounts for around half of the expenditure from OEMs, will increase link
According to the 2017 EU Industrial R&D Investment Scoreboard link, Worldwide companies’ R&D investment increased by 5.8% over the previous year, the sixth consecutive year of significant increases. The companies headquartered in the EU increased their R&D investments more than the global average of up to 7.0%.
The automobile and parts sector is responsible for 27% of the region’s total R&D spending, which makes the sector the EU’s number one investor in R&D.
For years, European automotive suppliers have registered the most patents for innovations in emissions and safety by bringing to the market an increasing diversity of products, with ever shorter development and production cycles, with over 8,700 automotive patents were granted by the European Patent Office last year.