Gothenburg companies among world's largest R&D spenders
Several Gothenburg-based companies are among the world’s 1,000 largest publicly listed corporate R&D spenders, shows a new study from PwC’s Strategy&.
Among the companies headquartered in Gothenburg, truck and bus maker the Volvo Group was the biggest spender in 2018, investing around USD 2 billion on R&D - equivalent to 4.8 per cent of its revenue. The company was placed 80th on the Global Innovation 1000 list.
The next Gothenburg headquartered firms on the list were manufacturing company SKF (433rd), which spent approximately USD 300 million on R&D; and medical technology company Getinge (845th), which invested around USD 100 million on R&D.
15 COMPANIES FROM SWEDEN
In total 15 of the world’s 1,000 largest publicly listed corporate R&D spenders are from Sweden.
Ericsson was Sweden’s biggest spender. The telecom giant invested USD 4.63 billion on R&D and was placed 36th overall. The company also has a large presence in Gothenburg with around 1,700 employees at its R&D facility in Lindholmen.
Other Swedish companies with a significant presence in Gothenburg that made the list were aerospace and defence company SAAB (700th), health and hygiene company Essity (757th). These two companies each have over 1,300 employees in the Gothenburg region.
Overall, the study found that the biggest spender in 2018 was Amazon with an R&D expenditure of USD 22.6 billion. It was followed by Google’s parent company Alphabet (USD 16.2 billion) and Volkswagon (USD 15.8 billion).
- Andreas Göthberg, Head of FDI at Business Region Göteborg
- Maria Strömberg, Head of Department Clusters and Innovation at Business Region Göteborg
Photo credit: the Volvo Group
Vera is an autonomous, electric vehicle that is being developed by the Volvo Group.