Dyson’s Electric Automobile Bites the DustOctober 11, 2019
Despite saying that many versions of the electric car are in the pipeline, on Thursday, Dyson announced that it has scrapped its EV program. The founder James Dyson said that the firm had developed a car that was ingenious but it is not commercially viable.
He said that no buyers came up for the project which led to the board scrapping the $3.11 billion project. The corporation did not say how much of the capital was pending but indicated that it will be used to improve or fund new programs. Any advancements which have come from the project like commercial licensing agreements will be used. The firm will now concentrate on making solid-state batteries and other technologies like sensing, vision and robotics and AI. Their battery will be beneficial to the next few projects and will continue production of other tech in UK and Singapore.
Dyson’s automotive team will be refurbished within the home appliance business. Those who cannot be absorbed will be given adequate consideration. The team had over 500 employees located in England.
The project was announced in 2017, and in 2018, Dyson was in talks to open an assembly line in Singapore, with sales beginning in 2021.
The business was given a £16 million grant from the UK government for battery research and used its own capital to build test courses for its vehicle. The properties are due to be used for other projects in the near future.