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