Why does a firm such as Sany (in the heavy equipment industry) spend so much of its revenue on R&D and innovation?

Why does a firm such as Sany (in the heavy equipment industry) spend so much of its revenue on R&D and innovation?
Read the Chapter 6 Mini-Case: Sany Heavy Industry Co., Ltd
Respond to question 3: Why does a firm such as Sany (in the heavy equipment industry) spend so much of its revenue on R&D and innovation?
You can use information from your personal (work) experience and/or from research from credible sources (other than the text).
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Why does a firm such as Sany (in the heavy equipment industry) spend so much of its revenue on R&D and innovation
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