It’s Back To Appliances For Dyson After Electric Car Failure
It’s back to appliances for Dyson boss Sir James Dyson after the Company pulled the plug on their electric car ambitions.
Despite developing what the Company described a “fantastic electric car” the concept will not hit the roads because it was not “commercially viable”.
The division that employs 500 people has also been unable to sell the engine and concept which was not aimed at the consumer market.
In an email sent to all employees, Sir James said the company had unsuccessfully tried to find a buyer for the project.
According to the BBC Dyson had planned to invest more than £2bn in developing a “radical and different” electric vehicle, a project it launched in 2016.
Dyson said that 50% of the funds would go towards building the car, half towards developing electric batteries.
Dyson has concluded that the Company can’t afford to play with the big boys however their efforts to make a quantum leap in battery technology will continue the Company said.
The company also planned to invest £200m in the UK in research and development and test track facilities. Much of that money has already been spent and Dyson said it would use the site for other projects.
The engines were set to be built at a new plant in Singapore where Dyson moved to live in 2018.
“This is not a product failure, or a failure of the team, for whom this news will be hard to hear and digest,” Sir James wrote.
He added “We have tried very hard throughout the development process; we simply can no longer see a way to make it commercially viable.”
“The Dyson automotive team has developed a fantastic car; they have been ingenious in their approach while remaining faithful to our philosophies.”
He said the firm was trying to find alternative roles for the workers in its home appliance operation.
Sir James said Dyson would continue to work on the battery technology, which was used in the car.
“Our battery will benefit Dyson in a profound way and take us in exciting new directions.”
“In summary, our investment appetite is undiminished, and we will continue to deepen our roots in both the UK and Singapore,” he said.
“This is not the first project which has changed direction and it will not be the last.”
The rest of the funds intended for the electric car project would still be spent on developing other products, including its battery technology, Dyson said.