Tata Motors, Mahindra top spenders on R&D in 2016-17

According to the Society of Indian Automobile Manufacturers (SIAM) and the Centre for Monitoring Indian Economy (CMIE), Tata Motors and Mahindra were the biggest spenders on research and development (R&D) in 2016-17, while the total spending of the industry stood at Rs. 7,909.6 crore. 

Tata Motors invested Rs. 2,100.1 crore in 2016-17, while Mahindra & Mahindra spent Rs. 2,075.8 crore on R&D during the same year. Maruti Suzuki took the third spot as it spent Rs. 640.4 crore, while Honda Cars India invested a sum of Rs. 549.7 crore. 

Ashok Leyland was in fifth place with an R&D spending of Rs. 389.5 crore. In comparison, VE Commercial Vehicles invested Rs. 268.6 crore, while Force Motors spent Rs. 113.4 crore on R&D in 2016-17.

In the 2-wheeler segment, Hero MotoCorp topped the list with an investment of Rs. 701 crore followed by Bajaj Auto with Rs. 367.6 crore. TVS Motor Company spent Rs. 244.7 crore, while Royal Enfield invested Rs. 128 crore in R&D in 2016-17.

Engine manufacturers Cummins India, Greeves Cotton and Simpson & Co. together invested Rs. 86.4 crore in R&D.

Source: Economic Times