LOL. Their market cap isn't even that high.
And if you believe their accounting, then they're trading way under their book value.
If they issued bonds to finance $84b in electric car research, they'd be rated thoroughly junk.
However, they spend a lot of money on R&D and this is just part of that budget over several years.
Total research and development costs 2016 : 13.672B, 2015 : 13.612B
Split over a ~12 years that's a little over 1/2 of total R&D spending. However, much of this is capital expenditures on new battery manufacturing not just pure R&D.