On the 21st, the "2015 Global Innovation 1000" auto industry data analysis report said that in 2015 China became the world's fourth largest auto company research and development. Shanghai Automotive Group Co., Ltd. entered the top 20 global innovative auto companies for the first time.
The study was conducted by 92 of the 1,000 listed companies with the highest global R&D spending. According to the report, in 2015, the total R&D amount of Chinese car companies including local R&D expenditures and overseas R&D input increased from US$3 billion in 2007 to US$11 billion, accounting for 11% of the global automotive industry R&D expenditure. The top three countries with the highest R&D value in the global automotive industry were the United States, Japan and Germany.
According to research and analysis, in 2015, 14 Chinese auto companies entered the Global Innovation 1000, although compared with 16 in 2014, the 14 R&D expenditures of these 14 auto companies totaled 4.35 billion USD, compared with 2014. The total R&D expenditure of 16 companies increased by 25%. Shanghai Automotive Group Co., Ltd. entered the top 20 global innovative auto companies for the first time with R&D expenditure of US$1.114 billion, ranking 19th. It is also the first Chinese auto company to enter the top 20 global innovation.
Jin Jun, a partner of PricewaterhouseCoopers China Management Consulting, said: "Based on industry-based development and the government's strong support for new energy vehicles, Chinese auto companies have gradually established a system of independent R&D to get rid of imitation and introduction of technology. The main product development model and the rising R&D expenditure of listed car companies are a strong evidence. However, compared with the world's leading auto companies, Chinese car companies still have room for growth in R&D expenditures, while increasing investment. You can further explore joint research and development models to jointly resist risks, improve efficiency, and reduce costs."
From the perspective of overseas R&D input, in 2015 China's auto industry attracted US$9 billion in input R&D funding, replacing Germany, second only to the US, becoming the second largest car R&D importing country. Another emerging market representative of India also received $3 billion in research and development input funding, surpassing the UK as the fifth largest importer of automotive research and development. In terms of R&D output, Japan is still ranked first in R&D and exporting countries with US$20 billion, and Germany has replaced the United States as the second largest car R&D exporter.
Liao Zhongmin, PwC China's automotive industry partner, believes that Asia is becoming the focus of R&D investment by automakers, component suppliers and even major industry companies. The main reason is the growth of demand in China and India's two emerging markets. In the future, the competition in the automotive industry will become increasingly global, and R&D expenditures will be increasingly applied to localized products, and China will be expected to become a gathering place for R&D centers of global car companies.
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