Interesting per vehicle analysis, the lack of spend on R&D for Ford & GM could be due to their advertising budget, however Ford and GM sell more ICEV's than EV's, thus lack of spend on ICE R&D could hide a high EV spend.
Note, Ford reported losses of ~$2 bill for their 22 FY, while Tesla's reported profits were just over $14 bill. How do Ford react to that, they stump up $650 mill to help develop LAC's Nevada project. I reckon there's a number of very lean years ahead for Ford and other legacy OEM's.
Good News & Bad News, page-23249
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