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BRITAIN-SINGAPORE- AUTOMOBILE
Dyson to make electric cars in Singapore
LONDON, Oct 23, 2018 (BSS/AFP) – British electric appliance pioneer Dyson
said Tuesday it had picked Singapore as the site for its first electric car
plant as part of a o2.5 billion (2.8 billion euro, $3.3 billion) global
investment drive in new technology.
Dyson, founded and owned by Brexit-backing billionaire entrepreneur James
Dyson, said the factory was scheduled for completion in 2020.
The company, best known for its cordless vacuum cleaners, hand dryers and
fans, is aiming to launch electric vehicles in 2021.
“The decision of where to make our car is complex, based on supply chains,
access to markets and the availability of the expertise that will help us
achieve our ambitions,” Dyson chief executive Jim Rowan said in a statement.
“Our existing footprint and team in Singapore, combined with the nation’s
significant advanced manufacturing expertise, made it a frontrunner.
Singapore also offers access to high-growth markets as well as an extensive
supply chain and a highly-skilled workforce,” he said.
“Singapore has a comparatively high cost base, but also great technology
expertise and focus. It is therefore the right place to make high quality
technology loaded machines, and the right place to make our electric
vehicle.”
Dyson announced his decision to launch electric cars last year — a sector
in which the company will face stiff competition from established players.
Electric vehicles are increasing in popularity as governments worldwide
drive forward plans to gradually phase out polluting petrol and diesel cars.
Dyson told AFP in an interview earlier this year that electric cars were
already available to order and the manufacturing location would be either in
Britain or Asia.
The company said that 2017 operating profit surged by almost one third to
around o800 million, aided by fast growth in China, India, Japan, Korea and
Taiwan. Revenues leapt 40 percent to o3.5 billion.
BSS/AFP/IJ/1638 hrs