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Many Chinese automakersCNBC
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86% Informative
Many Chinese automakers already spend as much as or more than their global peers on R&D as a percent of revenue.
Of the four U.S.-listed Chinese electric car companies, Nio ranked first , spending nearly 29% of revenue in the first three months of the year on research and development.
It's less clear whether that higher spending can translate into long-term competitiveness.
Geely ranked second in new energy vehicle sales in the first half of the year , putting Tesla in third place.
Geely last month launched its " Aegis Short Blade Battery ," which the automaker claims passed above-industry standard tests without exploding.
By contrast, Tesla spent $1.15 billion on research and development during that time.
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