Siemens to invest nearly 5 bn euros in R&D in 2016

FRANKFURT : German engineering giant Siemens said Tuesday it plans to increase spending in research and development to close to five billion euros next year and will open a new research centre in China.

“In 2016, Siemens will invest around 4.8 billion euros ($5.2 billion) in research and development, some 300 million euros more than last fiscal year,” Siemens said in a statement.

R&D spending had therefore increased by about 20 percent since 2014, the statement said.

“In fiscal 2015, research intensity defined as the ratio of R&D expenditures to revenue was 5.9 percent, an increase of 0.3 percentage points over the prior year.”

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