In the ranking of companies with the highest research spending worldwide, German automaker Volkswagen has been overtaken by Amazon. The internet giant tops the list with $16.1 billion in the last completed fiscal year, followed by Alphabet with $13.9 billion. This is according to a study by Strategy&, the strategy consulting arm of the auditing and consulting firm PwC.
Volkswagen had held first place in the ranking for five consecutive years. With a market capitalization of $12.1 billion, the carmaker now only manages fifth place and has had to relinquish all the top spots to tech companies, as the graphic shows.
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