Ford Motor Company: R&D costs 2013-2023

Ford’s research and development (R&D) expenditures came to about 8.2 billion U.S. dollars in 2023. The Michigan-based company appears to be adapting to altered fuel economy regulations and the declining demand for sedans and smaller cars in the United States by developing new designs and products.

Focus of research and development activities

In light of an increased concern from consumers and policymakers about the impact of fossil fuels on carbon dioxide emissions, Ford is working on a new fleet of electric vehicles with a goal for 40 or 50 percent of its global vehicle volume to be fully electric by 2030. In June 2020, it was announced that Ford will gain access to Volkswagen's modular electric drive (MEB) architecture to assemble electric vehicles (EVs), a partnership which was expanded in March 2022 as Ford planned to produce another electric model for the European market based on Volkswagen's MEB platform. This move put a halt to a planned partnership between Ford's Lincoln brand and EV startup Rivian to build EVs. In 2022, Ford sold around 91 million shares in Rivian. In September 2021, the manufacturer further announced plans to open campuses in Tennessee and Kentucky to build the next generation of electric F-series trucks and batteries. The F-Series was among the best-selling cars and light trucks worldwide.

Another focus of Ford’s research and development department is artificial intelligence (AI). For example, Ford has invested more than one billion U.S. dollars in Argo AI, the most well-fundedU.S.-based AI startup. Ford used Argo AI technology in its vehicles; partially autonomous cars are expected to become a large market by 2025.