Big Three Big Spenders on Research and Development

Joseph Szczesny

General Motors Co., Ford Motor Co. and Fiat Chrysler Automobiles N.V., despite their hidebound reputations, actually spend more on research and development than companies such as Facebook, according to a new report.

The report from the American Automotive Policy Council, the Washington D.C.-based lobby for the domestic auto industry, reported that, based on the latest data, the auto industry ranks second in global R&D spending and invested more than $20 billion in the U.S. last year.

Source: 
The Detroit Bureau