Dyson plans to build electric cars in Singapore
Dyson plans to build electric cars in Singapore
LONDON. Dyson Ltd., best known for its high-end vacuum cleaners, said on Tuesday it plans to manufacture electric cars in Singapore, with the aim of making its mark on the auto industry in fast-growing Asian markets.
The British company, tightly controlled, said that a manufacturing plant would be built by 2020 and that its vehicles, ready to compete against the pioneers of electric cars.
and other major automakers, would go on sale the following year.
Dyson, which manufactures a range of household appliances, has revealed plans to expand into automobile manufacturing. last year, committing to commit £ 2 trillion ($ 2.6 trillion) for the project, including £ 200 million in test and research and development facilities based in the United Kingdom.
Singapore's proximity to major Asian markets, including China, the world's largest electric car market, was key to Dyson's choice of a manufacturing base, a Dyson spokesman said, noting high volumes in the region.
Dyson already has 1,100 employees in three manufacturing centers in Singapore, and said it has bilateral trade agreements with China, India, the United States and the European Union.
"Singapore is critical to our future and we expect more than to duplicate our team there," Chief Executive Jim Rowan said in an email to staff on Tuesday.
The company faces a difficult challenge to penetrate an automotive industry dominated by players with many resources and years of experience in car manufacturing. But Dyson has made a mark throughout the world by merging innovative engineering and design to provide new outlets for everyday appliances, such as vacuum cleaners, fans and hand dryers.
The company has said it plans to rely on those credentials in the development of electric vehicles and will not collaborate with other automakers.
Dyson already manufactures the necessary components to build vehicles, such as motors and high-speed batteries. Its teams in Singapore have manufactured 50 million high-speed digital engines, an essential element of electric cars.
The company's plan to expand into automobiles is due to financial growth. Last year, Dyson's revenues increased 40% to £ 3.5 billion, with earnings before interest, taxes, depreciation and amortization rising 27% to £ 801 million. The company said the growth was particularly strong in Asia.
The founder of the company, James Dyson, has been a vocal supporter of the USA. UU When leaving the EU, and some politicians criticized the decision to manufacture cars in Asia. Ian Murray, a member of the Labor Party, said that Mr. Dyson had not "put his money where it is and invests in British manufacturing."
Dyson, who calculated his count at U.K. At 4,800, he said his decision was not related to Brexit, although some analysts said the measure avoided political uncertainty.
"The choice of Singapore in a European approach eliminates concerns about the impact of Brexit on the automotive supply chain," said Jamie MacEwan at Enders Analysis. "The only cloud on the horizon is if Dyson is finally required to open another plant in China with a local partner, as have several European automakers."
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