Research and development expenses of Tesla 2006-2023

Amounts are in millions.

Year	R&D Costs (Millions)
2023	$3,969
2022	$3,075
2021	$2,593
2020	$1,491
2019	$1,343
2018	$1460.4
2017	$1378.1
2016	$834.4
2015	$717.9
2014	$464.7
2013	$232
2012	$274
2011	$209
2010	$93
2009	$19.3
2008	$53.7
2007	$62.8
2006	$25

FY 2023: In Fy 2023, Tesla’s research and development expenses increased 29% compared to the prior year. The company spent $3,969 million or $894 million higher compared to the prior year.

FY 2022: Tesla’s research and development expenses increased by 19% in 2022 compared to the prior year. The company spent $3,075 million on research and development in 2022 compared to $2,593 million in the prior year.

FY 20201: 2021 was financially an excellent year for Tesla. The company experienced 71% growth in its net revenues in 2021 compared to the previous year. It also increased its investment in research and development expenses in 2021 compared to the last year. The company spent $2,593 million on research and development in 2021 compared to $1,491 million in 2020.

The research and development expenses of Tesla grew to $1.5 billion  from $1.34 billion in 2019.

Tesla is an innovative brand of automobiles and energy generation and storage products. The company places heavy focus on research and development. Every year, the brand invests a large sum in R&D.

In Fy 2019, the research and development expenses of Tesla were $1.34 billion, down from $1.5 billion in 2018.

In FY 2018, Tesla’s R&D expenses grew to $1.5 Billion from $1.4 Billion in 2017.

About Tesla:

Tesla is a renowned global brand of electric vehicles. It was founded in the year 2003. The company is headquartered in Palo Alto, California, United States. Apart from automobiles, Tesla also sells energy generation and storage systems.  The automobile product range of Tesla includes Model 3, Model Y, Model S, Model X, and Cybertruck. The company is led by its CEO Elon Musk. In 2019, Tesla delivered around 367,500 vehicles.