The German automaker BMW has stated that it is looking to further increase the funds it is pumping into its research and development next year. The company plans to inject 6.5-7% of their sales into research and development. This was revealed by their CFO Nicolas Peter during an interview with German daily Handelsblatt.
The newspaper quotes peter stating that, “That is a lot of money, in absolute numbers, it’s around 7 billion euros ($8.3 billion), which is nearly as much as we spent in 2011 and 2012 combined.” He further added that “Spending will remain high in 2019 as well,” in an interview that was published earlier today.
Earlier this year, Peter had stated that the company’s R&D spending would increase so as to cope with the increased global demand for lower emissions, electrified cars, and autonomous driving technology. Back then, he stated that the money spent on research and development is around 6% of 2017, an increase from the 5.5% that was allocated last year.
Uber executives reassuring regulatory bodies across the globe after controversies
The ride-hailing company has been embroiled in several controversies over the past few months, with the last one being the company admitting to paying hackers to delete the record of drivers after massive data breach last year. The executives of Uber are now traveling all over the world as they look to reassure regulatory bodies that the company has learned their lesson and are changing the way they do business.
The controversies have affected the reputation of the firm negatively and the company is now looking to remedy that. This was revealed by the Asian head earlier on Monday.
The chief business officer in Asia Brooks Entwistle while granting an interview to Reuters in Tokyo stated that “We’ve learned very quickly and we’re tacking very quickly.” Brooks Entwistle made this statement as he is set to meet regulators in Japan.
Earlier this month, Uber confirmed that it had covered up the data breach that happened last year. The massive data breach compromised data of some 57 million customers and drivers. The revelation sparked a global outrage as governments all over the globe are investigating the issue.