Hyundai Motors Research and Development Expenses

Research & Development (R&D) Expenses of Hyundai Motors 2010-2021

Amounts are in Billions of Korean Won (KRW).

YearR&D Costs (Billion KRW)
2021￦ 3,098
2020￦ 3,097
2019￦ 3,021.7
2018￦ 2742.4
2017￦ 2487.8
2016￦ 2352
2015￦ 2172
2014￦ 2129
2013￦ 1849
2012￦ 1631.7
2011￦ 1445.3
2010￦ 1388.8

2021: The research and development expenses of Hyundai Motors in 2021 increased to ￦3,098 billion compared to ￦3,097 billion in 2020. 

Due to the growing competition in the automobile industry and rising demand for electrical vehicles, companies are spending more than ever on research and development. Technological innovation has become an important source of differentiation and a leading tool for market expansion. The R&D expenses of Hyundai Motors has grown fast during the recent years. Between 2015 and 2018, the research and development expenses of Hyundai motors grew by more than 500 billion Korean Won. In 2018, the research and development expenses of Hyundai Motors grew to ￦ 2742.4 billion from ￦ 2487.8 billion in 2017.

Hyundai Motors is a South Korean brand of automobiles with its headquarters in Seoul, South Korea.