Dyson says it will spend $2.7 billion developing an electric vehicle

Wednesday, 27 Sep, 2017

The vehicle is expected to be priced for wealthier clients, not the "mass market", the BBC said.

The as-yet-unnamed vehicle is going to be developed at Dyson headquarters in Malmesbury, Wiltshire, and considering it's such a stretch from the products that Dyson now makes, the company is going to have to do some serious expanding. The company hasn't said when it might market this vehicle in the USA, but it's intended as a prototype for Honda electrics worldwide.

Machine will have significant differences from its direct competitors on the market. "There's no point doing something that looks like everyone else's", he said. That's no longer a rumor, as the company has confirmed that it's working on a battery electric vehicle with an all-electric drivetrain to be launched by 2020.

Dyson has been investing in battery technology for several years. It acquired a Michigan-based battery technology company, Sakti3, in 2015.

At present the company has 400 staff working on the auto project, and has committed 2.0 billion pounds ($3.4 billion) in funds to bring the vehicle to reality.

Moreover, they have made some prominent hires from Aston Martin and Tesla in 2017. Dyson employs about 4,000 in the United Kingdom.

An email went out explaining the company's history with air pollution and vehicles, which goes back to 1988 when Dyson worked on filtering vehicle exhaust.

Add to the costliness of manufacturing an EV, Dyson will have to compete with Tesla for its cult-like following.

That might change in the future however, as the company has announced plans to create its own electric cars.

"Wherever we make the battery, we'll make the vehicle, that's logical", he said. Today, only a handful of homes have these hook-ups. Dyson now makes products in Singapore, Malaysia and the Philippines.

The post Dyson Electric Cars to Launch in 2020 appeared first on InvestorPlace. Now the company is headed in a new direction: building an electric vehicle.

The disclosure was formally made today following a rising tide of speculation, but comes after broad plans were accidentally outed in a government National Infrastructure Delivery Plan published previous year.

British technology company Dyson has already applied their design sensibilities to products like vacuum cleaners, hand driers, and bladeless fans.