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  • News article
  • 28 January 2025
  • European Innovation Council and SMEs Executive Agency
  • 1 min read

EU Industrial R&D Investment Scoreboard: Tata Motors Boosts R&D Investment by 44%

The EU Industrial Research and Development (R&D) Investment Scoreboard serves as a vital tool for tracking and comparing the performance of the EU's top industrial R&D investors with their global counterparts. Established in 2004, it has become a trusted resource for companies, researchers, and policymakers, offering valuable insights and data.

The 2024 Scoreboard’s monitors the world's top 2 000 R&D investors, responsible for over three quarters of R&D performed by the business sector globally, based on the financial information in the firms’ latest published audited accounts. 

The report states that the automotive sector has been the driver of growth in 2023 with a net addition to R&D investment of EUR 25.1 billion. In particular EU, Chinese and ROW companies raised their R&D investments substantially, while the development in Japan and the US was more modest. In ROW, the strong growth is driven by the Indian company Tata Motors, increasing R&D by 44% to EUR 2.5 billion, followed by the two South Korean companies Hyundai Motor and Hyundai Mobis with 19% and 17% increases; also the Canadian company Magna raised R&D investment strongly by 32%. Tata Motors became the largest automotive R&D investor in the ROW countries in 2023 (previously Hyundai Motor).

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Publication date
28 January 2025
Author
European Innovation Council and SMEs Executive Agency