BMW to Increase R&D Spending to Up to 7% of Revenue in 2018 -Handelsblatt

BMW AG (BMW.XE) plans to increase research and development spending to between 6.5% and 7% of revenue, or to around seven billion euros ($8.35 billion), in 2018, Nicolas Peter, the car maker's chief financial officer told German newspaper Handelsblatt on Sunday.

--BMW had previously aimed to invest 5.5% of revenue into R&D, Mr. Peter said.

--Spending for R&D would also stay high in 2019, he added.

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November 27, 2017 03:52 ET (08:52 GMT)