June 28, 2017 / 1:20 PM / 22 days ago

BMW to spend 5.5-6 percent of revenue on R&D in 2017-2019: CFO

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A BMW logo is seen at a car dealership in Vienna, Austria, May 30, 2017.Heinz-Peter Bader/Files

MUNICH (Reuters) - BMW will maintain high levels of research and development (R&D) spending until 2019 and streamline its manufacturing process to offset higher investments, Chief Financial Officer Nicolas Peter said on Wednesday.

BMW is developing electric, autonomous and connected cars in addition to developing vehicles with combustion engines to meet more stringent emissions tests.

In recent years BMW has invested around 5 percent of its revenue in R&D, or around 5 billion euros in 2016.

"The next three years will be between 5.5 percent and 6 percent," Peter said.

Reporting by Edward Taylor

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