Innovate to improve, innovate to grow.
To better understand the importance of Research and Development in automotive field, just observe the investments that the major manufacturers have made in recent years.
Investment in R & D has increased by 90% over the past decade, also due to tougher laws against pollution.
We’re talking about 123 billion euros spent by automotive companies on innovation.
As part of a Joint Research survey, the European Commission has published a ranking of large car manufacturers that have invested most in Research and Development. Among the top 2500 companies in the world employing more financial resources in new automotive technologies, Volkswagen Group stands in first place. In 2019 Volkswagen invested 13.6 billion euros in R&D, 3.8% more than in 2018. Volkswagen Group is followed by Daimler (9 billion), Toyota (8.2 billion), Ford (7.2 billion) and Bmw (6.9 billion).
Alongside vehicle producer companies, automotive components manufacturers are also actively engaged in innovation. The main auto parts suppliers invested a total of about 14 billion euros in R&D in 2019, corresponding to an average of 8% of their turnover.
Cofle has an internal R & D department that allows us to provide our customers with bespoke, up-to-date and innovative products and solutions.
The products intended for the oem market -off road and industrial vehicles- are conceived and designed by our Engineering and Research and Development department. The Italian technical team, in close cooperation with the Turkish R & D department, works to create new products through two different modes: the former finds its strengths in flexibility and customization, developing a multi-step process of co-engineering of the product in response to a direct request from the customer and thus arriving at the best possible solution; the second involves the conception, design and development of new products or variants not yet present on the market.
Not foreseeing investments in Research and Development or underestimating them could have extremely impactful consequences for companies; less costs in the present but much less future revenue and benefits. Making a comparison with agriculture, who sows well today will reap with satisfaction tomorrow.
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