According to the European Automobile Manufacturers’ Association (ACEA), the European automotive sector contributes approximately €73 billion towards research development each year, making the sector Europe’s largest private investor in research and development.
Across the financial year of 2022 to 2023, members of the European Small Volume Car Manufacturers Alliance (ESCA) invested over €600,000,000 towards research and development. These investments enable ESCA members to continually push the boundaries of technology, design, and sustainability in their vehicles. By allocating significant resources to research and development initiatives, ESCA members are able to develop cutting-edge technology such as lightweight materials and enhanced safety features.
Posted by