Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk thinks the way research and development (R&D) budget statistics are “jumped up” is strange.
What happened: The entrepreneur reacted to the R&D spending figures shared on Twitter on Sunday by Sawyer Merrittco-founder of the sustainable clothing brand Twin Birch.
The data indicated that Tesla spent significantly less than rivals such as Volkswagen SA (OTC: VWAGY), Ford Motor Company (NYSE: F), and General Motors (NYSE: GM) among others.
It’s strange how these things are stacked. I consider the whole company to be R&D.
— Elon Musk (@elonmusk) April 24, 2022
Musk said, “It’s weird how these things are categorized. I consider the whole company to be R&D.
See also: How to Buy Tesla Stock (TSLA)
Why is this important: Tesla spends $2,984 on R&D per car sold, according to data from Statista.
This figure is exponentially higher than Ford’s $1,186 R&D expenditure or GM’s $878 per car sold.
On the other hand, Tesla spends $0 in ad spend per car sold, while Ford spends $468 and GM $394.
Last week, Musk reacted to Tesla’s operating expense comparison with Rivian Automobile Inc. (NASDAQ: RIVN). He said the expense was “embarrassing”.
Price action: Shares of Tesla closed down 0.4% at $1,005.05 in the regular session on Friday, according to Benzinga Pro data.
Read more : Tesla Owner Crashes Model Y In $3.5M Jet Using Autonomous Smart Summon Feature: Video
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