Toyota spends $1 million every hour on R&D

If you’re a fleet manager wondering just how committed carmakers are these days in terms of developing safer and more efficient vehicles, you might want to have a look at one of the industry's leaders.

Toyota Motor Corporation recently released its annual report, which stated that it invested a whopping 807.4 billion yen (A$8.85 billion) on research and development in the latest financial year.

Doing the maths, that works out to be roughly $1 million every single hour, according to a September 17 news release.

The Japanese car giant is investing these funds into developing new technologies with a focus on environment, energy and safety.

Tony Cramb, executive director of sales and marketing for Toyota Australia, said that such a consistent dedication to improving its products for the benefits of both consumers and the wider community is what keeps Toyota at the forefront of the car industry.

"This massive R&D commitment demonstrates that everyone at Toyota is driven to listen to our customers and to develop new ways to improve their experience," he said.

"Such passion is evident in the work of our innovative designers and engineers and, ultimately, in the vehicles and services we deliver. Toyota is never going to stop trying to make ever-better vehicles for customers in Australia and around the world."

It's easy to see everyday examples of Toyota's continually groundbreaking innovations, such as the Toyota Prius, which is now one of the world's most popular and best-selling green cars.

In developing the current model of the Prius, Toyota filed a total of 1,261 patents around the world, according to the news release.

Toyota also claimed that work was already underway on further technologies, including its first hydrogen fuel-cell vehicle aimed at the consumer market.