| ||Thread Tools|
|11th October 2019, 13:05||#1|
Join Date: May 2010
Dyson gives up on the car industry
Knight calls it a day
The Brexit supporter who shifted his business to Singapore to avoid the economic disaster he supported, Sir James Dyson has now walked away from his electric car project.
Dyson has abandoned its attempts to break into the automotive industry and will wind down its electric vehicle project, Dyson claimed would redefine his business, we guess he worked out that would have a similar effect to Brexit on his company.
The company failed to find a buyer for its designs, and said its plans to build a car from scratch in Singapore were no longer commercially viable.
Dyson's ambitions faced a mounting challenge from established carmakers, while electric vehicle makers such as Tesla have raised large sums on the stock and bond markets.
Many new entrants such as China's Nio have struggled with the cost of competing against deep-pocketed incumbents. Sir James's decision represents a humbling U-turn for a man who is one of Britain's most celebrated living inventors.
The billionaire businessman had hoped to harness his privately-owned group's expertise in battery systems, aerodynamics and high-tech manufacturing to break into a fiercely competitive industry.
"Though we have tried very hard throughout the development process, we simply can no longer see a way to make it commercially viable," Sir James wrote in an email to staff on Thursday.
"We have been through a serious process to find a buyer for the project which has, unfortunately, been unsuccessful so far."
The failed automotive gamble was part of a $3.1 billion investment push into a range of new technologies, including artificial intelligence and robotics and batteries.
|Thread||Thread Starter||Forum||Replies||Last Post|
|Dyson ends its electric car project||Stefan Mileschin||WebNews||0||11th October 2019 12:55|
|Dyson's latest air purifier destroys formaldehyde||Stefan Mileschin||WebNews||0||1st October 2019 09:20|
|Dyson might design an air purifier that also works as headphones||Stefan Mileschin||WebNews||0||13th November 2018 08:04|
|Dyson's second robot vacuum isn't afraid of the dark||Stefan Mileschin||WebNews||0||13th September 2018 10:28|
|Dyson's latest fans can purify air without blowing at you||Stefan Mileschin||WebNews||0||14th March 2018 06:19|
|Dyson going to build a different electric car||Stefan Mileschin||WebNews||0||30th September 2017 07:49|
|Jets and mannequin heads: Just another day at Dyson's campus||Stefan Mileschin||WebNews||0||15th January 2017 14:41|
|Dyson's latest air purifier measures your air quality||Stefan Mileschin||WebNews||0||1st April 2016 12:40|
|Dyson's big, heavy, complicated robot vacuum that never was||Stefan Mileschin||WebNews||0||26th October 2015 08:16|
|Dyson's new vacuums don't require that you clean the filter||Stefan Mileschin||WebNews||0||8th January 2015 17:53|