Tesla's research and development spending increased to over *** billion U.S. dollars in 2024. The intensity of investment in recent years has made Tesla the leading electric vehicle manufacturer in the United States. Globally, the company sold around *** million vehicles in 2024.
Tesla’s strategy
Tesla distinguishes itself from its domestic competitors by focusing on electric vehicles. It is currently one of the leading companies globally for electric vehicle sales and has even tapped into the luxury car market. Tesla's vehicles had some of the best battery ranges in 2024. To a certain extent, Tesla increased R&D efforts to also enhance battery quality and range for their electric vehicles.
The path forward
Tesla was among the global brands with the highest brand value as of October 2024. At the end of 2020, common stockholders saw positive returns on their investments for the first time. The company continues to expand its model range throughout 2023 and 2024, with its Cybertruck model hitting the road in late 2023.
Quarterly values for 2020 have been added up. The figures for 2010 through 2021 were taken from previous annual reports. The values have been rounded. For the fiscal years ending December 31.
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Tesla. (January 29, 2025). Tesla's research and development expenses from FY 2010 to FY 2024 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 04, 2025, from https://www.statista.com/statistics/314863/research-and-development-expenses-of-tesla/
Tesla. "Tesla's research and development expenses from FY 2010 to FY 2024 (in million U.S. dollars)." Chart. January 29, 2025. Statista. Accessed November 04, 2025. https://www.statista.com/statistics/314863/research-and-development-expenses-of-tesla/
Tesla. (2025). Tesla's research and development expenses from FY 2010 to FY 2024 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 04, 2025. https://www.statista.com/statistics/314863/research-and-development-expenses-of-tesla/
Tesla. "Tesla's Research and Development Expenses from Fy 2010 to Fy 2024 (in Million U.S. Dollars)." Statista, Statista Inc., 29 Jan 2025, https://www.statista.com/statistics/314863/research-and-development-expenses-of-tesla/
Tesla, Tesla's research and development expenses from FY 2010 to FY 2024 (in million U.S. dollars) Statista, https://www.statista.com/statistics/314863/research-and-development-expenses-of-tesla/ (last visited November 04, 2025)
Tesla's research and development expenses from FY 2010 to FY 2024 (in million U.S. dollars) [Graph], Tesla, January 29, 2025. [Online]. Available: https://www.statista.com/statistics/314863/research-and-development-expenses-of-tesla/
