Siemens is maintaining its investment in research and development despite the economic slowdown and reduced energy consumption caused by the global coronavirus pandemic, managing board member Cedrik Neike said recently.
“It comes out of the bottom line to be honest,” Neike told journalists. “We believe we have to invest in future technology.”
“COVID-19 is going to go away at some stage,” he added, saying Siemens is one of the world’s biggest investors in technology R&D, spending more than 5.4 billion euros (US$6.11 billion) per year.
Siemens expects global energy consumption to fall by 6per cent this year.