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dyson not building car factory, does James have to return his Bungalow?
- Thread starter hofmann
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All hype n too many competitors...Dyson is too late in the game
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Dyson bins electric car project calling it 'not commercially viable' - Business
Updated about 8 hours ago
PHOTO Sir James Dyson has pulled the pin on an electric car project for his company. AFP
Sir James Dyson, the inventor of the bagless vacuum cleaner, has cancelled his ambitious plan to build an electric car because the project is not commercially viable.
Sir James said his engineers had built a "fantastic car" and that the project was not being closed due to any failures in research and development.
"However, though we have tried very hard throughout the development process, we simply can no longer see a way to make it commercially viable," he said on Thursday.
The company had tried to find a buyer for the project without success.
Sir James announced two years ago that his engineers had been working a on a secret automotive project, building on its expertise in batteries and electric motors to develop a vehicle.
The company bet that its battery know-how would give it an edge in electric vehicles, but the closure of the project indicates it underestimated the complexity and cost of starting a car company from scratch.
US company Tesla is the only new large player that has broken into the market, and it consumed billions of dollars in investor capital and has yet to produce a full-year profit.
PHOTO The resurrected electric car is a far cry from its 20th century forbear. WIKIMEDIA COMMONS: SMNT
Mainstream manufacturers have also ramped up investment in electric engines to meet much toughened anti-pollution rules.
Volkswagen, the world's largest passenger car maker, is investing 80 billion euros ($130 billion) to mass produce electric cars, starting with the launch of its ID Vehicle that hits showrooms next year.
Dyson selected Singapore — a country that does not have any existing car manufacturing — to build the car, which was to be mostly targeted at the Chinese market and others in Asia.
It was building a two-storey manufacturing facility in the city state, scheduled for completion in 2020, with the first cars expected to roll off production lines a year later.
Some 500 engineers were working on the project, mostly based at its site in Malmesbury and Hullavington in southwest England.
Sir James said the company was working to find alternative roles for as many of them as possible within other areas of its business, which makes air purifiers, fans and hair dryers as well as cleaners.
Although Dyson is closing its automotive division, it said it would continue to develop solid state batteries, and other technology including vision systems, robotics, machine learning and AI.
"Our battery will benefit Dyson in a profound way and take us in exciting new directions," the 72 year-old founder said.
Sir James said the company had always taken risks and dared to challenge the status quo with new products and technologies, an approach that has paid off handsomely in vacuum cleaners.
"Such an approach drives progress, but has never been an easy journey and the route to success is never linear," he said.
"This is not the first project which has changed direction and it will not be the last."
Reuters
Updated about 8 hours ago
Sir James Dyson, the inventor of the bagless vacuum cleaner, has cancelled his ambitious plan to build an electric car because the project is not commercially viable.
Sir James said his engineers had built a "fantastic car" and that the project was not being closed due to any failures in research and development.
"However, though we have tried very hard throughout the development process, we simply can no longer see a way to make it commercially viable," he said on Thursday.
The company had tried to find a buyer for the project without success.
Sir James announced two years ago that his engineers had been working a on a secret automotive project, building on its expertise in batteries and electric motors to develop a vehicle.
The company bet that its battery know-how would give it an edge in electric vehicles, but the closure of the project indicates it underestimated the complexity and cost of starting a car company from scratch.
US company Tesla is the only new large player that has broken into the market, and it consumed billions of dollars in investor capital and has yet to produce a full-year profit.
Mainstream manufacturers have also ramped up investment in electric engines to meet much toughened anti-pollution rules.
Volkswagen, the world's largest passenger car maker, is investing 80 billion euros ($130 billion) to mass produce electric cars, starting with the launch of its ID Vehicle that hits showrooms next year.
Dyson selected Singapore — a country that does not have any existing car manufacturing — to build the car, which was to be mostly targeted at the Chinese market and others in Asia.
It was building a two-storey manufacturing facility in the city state, scheduled for completion in 2020, with the first cars expected to roll off production lines a year later.
Some 500 engineers were working on the project, mostly based at its site in Malmesbury and Hullavington in southwest England.
Sir James said the company was working to find alternative roles for as many of them as possible within other areas of its business, which makes air purifiers, fans and hair dryers as well as cleaners.
Although Dyson is closing its automotive division, it said it would continue to develop solid state batteries, and other technology including vision systems, robotics, machine learning and AI.
"Our battery will benefit Dyson in a profound way and take us in exciting new directions," the 72 year-old founder said.
Sir James said the company had always taken risks and dared to challenge the status quo with new products and technologies, an approach that has paid off handsomely in vacuum cleaners.
"Such an approach drives progress, but has never been an easy journey and the route to success is never linear," he said.
"This is not the first project which has changed direction and it will not be the last."
Reuters
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Dyson to scrap car project, about 20 jobs in Singapore 'affected'
British technology company Dyson is closing its automotive division. (Photo: Dyson)
11 Oct 2019 12:38AM
(Updated: 11 Oct 2019 05:23PM)
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SINGAPORE: British technology company Dyson, best known for its hairdryers and vacuum cleaners, said on Thursday (Oct 10) it is shutting down its automotive division.
The company, headed by billionaire entrepreneur James Dyson, said its team had developed a "fantastic" electric car, but that it was not commercially viable.
"Though we have tried very hard throughout the development process, we simply can no longer see a way to make it commercially viable," said Mr Dyson in an e-mail to employees.
"We have been through a serious process to find a buyer for the project which has, unfortunately, been unsuccessful so far," he said.
Dyson’s global automotive team comprises 523 people.
The company is working to "quickly find alternative roles within Dyson for as many of the team as possible", he said, adding the company had sufficient vacancies to absorb "most of the people into our home business".
The car was expected to have launched in 2021, and Thursday's announcement comes just months after Mr Dyson released brief details hinting that its electric vehicle would be more energy efficient than rivals.
The firm last year unveiled plans to build an electric car plant in Singapore.
READ: Why did Dyson pick Singapore to build its electric car?
The closure of the automotive division will affect about 20 people in Singapore, the company said in response to CNA's queries.
"About 20 people in Singapore have been affected. We are hoping to find roles for as many people as possible," it said in an email response.
"We are in a consultation process at the moment and have sufficient vacancies that we can absorb most of the people affected."
In his e-mail on Thursday, Mr Dyson said it will continue to expand in Singapore and other global locations.
"We will also concentrate on the formidable task of manufacturing solid state batteries and other fundamental technologies which we have identified: sensing technologies, vision systems, robotics, machine learning, and AI offer us significant opportunities which we must grab with both hands," he said.
"In summary, our investment appetite is undiminished and we will continue to deepen our roots in both the UK and Singapore."
British technology company Dyson is closing its automotive division. (Photo: Dyson)
11 Oct 2019 12:38AM
(Updated: 11 Oct 2019 05:23PM)
Share this content
Bookmark
SINGAPORE: British technology company Dyson, best known for its hairdryers and vacuum cleaners, said on Thursday (Oct 10) it is shutting down its automotive division.
The company, headed by billionaire entrepreneur James Dyson, said its team had developed a "fantastic" electric car, but that it was not commercially viable.
"Though we have tried very hard throughout the development process, we simply can no longer see a way to make it commercially viable," said Mr Dyson in an e-mail to employees.
"We have been through a serious process to find a buyer for the project which has, unfortunately, been unsuccessful so far," he said.
Dyson’s global automotive team comprises 523 people.
The company is working to "quickly find alternative roles within Dyson for as many of the team as possible", he said, adding the company had sufficient vacancies to absorb "most of the people into our home business".
The car was expected to have launched in 2021, and Thursday's announcement comes just months after Mr Dyson released brief details hinting that its electric vehicle would be more energy efficient than rivals.
The firm last year unveiled plans to build an electric car plant in Singapore.
READ: Why did Dyson pick Singapore to build its electric car?
The closure of the automotive division will affect about 20 people in Singapore, the company said in response to CNA's queries.
"About 20 people in Singapore have been affected. We are hoping to find roles for as many people as possible," it said in an email response.
"We are in a consultation process at the moment and have sufficient vacancies that we can absorb most of the people affected."
In his e-mail on Thursday, Mr Dyson said it will continue to expand in Singapore and other global locations.
"We will also concentrate on the formidable task of manufacturing solid state batteries and other fundamental technologies which we have identified: sensing technologies, vision systems, robotics, machine learning, and AI offer us significant opportunities which we must grab with both hands," he said.
"In summary, our investment appetite is undiminished and we will continue to deepen our roots in both the UK and Singapore."
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Electric car design should be simple and cheap. Thats what millenials expect.
About $$? Not commercially viable? Bad for business? I thought these people are all in it for the environment? To save the world? Save greta thunberg? Save the children future?
The environmentalists have never talked about needing green projects to be commercially viable.
Eh those environmentalists better go protest against Dyson for backing out.
The environmentalists have never talked about needing green projects to be commercially viable.
Eh those environmentalists better go protest against Dyson for backing out.
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wait for others to do it then copy
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porsche just sent me an email to bait me to buy one. fully electric. available beginning of next year. it will be a big hit in america.
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how about a dyson vibrator? and breast massager?How about a Dyson PMD?
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Foreigners create good jobs for Sinkies. WTF
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Overpriced household appliances. The Chinese copies does the same job for 1/3 or 1/4 of dyson's price.
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Dyson products only win in the aesthetics and design department...other than that everything else is quite inferior...
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Billionaire James Dyson switches residency back to UK from S'pore
Moving out.
Lean Jinghui |
April 22, 2021, 12:31 PM
Billionaire James Dyson has relocated from Singapore back to the United Kingdom, reversing a move he made two years ago.
Magnifying its footprint
Sponsored by SKINLAB THE MEDICAL SPA PTE LTD
SkinLab The Medical Spa wants to bring its trusted reputation as a Singaporean brand to overseas markets such as China and Malaysia.
See More
According to Bloomberg, Dyson, 73, now primarily lives in the U.K., according to filings for companies the billionaire controls, including for his family office Weybourne.
“We do not comment on private family matters and nothing has changed in respect of the company,” a Dyson spokesperson said, according to Bloomberg.
“The structure of the group and the business rationale underpinning it are unaltered.”
Criticism over the move
Dyson, who is worth US$29 billion (S$38.5 billion), faced criticism from U.K. lawmakers for switching to Singapore initially given his pro-Brexit stance.
This latest move comes after Dyson had bolstered his presence in Singapore for two years, liquidating U.K. companies and hiring staff in Singapore for his family office.
Now Dyson is facing another controversy.
BBC reported he had texted prime minister Boris Johnson in March 2020 to get assurance that Dyson staff wouldn’t face a change in their tax situation if they came to the U.K. to help make ventilators in response to Covid-19.
The billionaire wrote to the Treasury, but then reached out to Johnson, sparking concern over whether the prime minister followed procedures to disclose the messages.
Johnson was forced to defend his actions in parliament on April 20.
However, Dyson said in a statement on the same day that it was Johnson who initiated contact in 2020.
The ventilator project at the time of "national crisis" cost Dyson about 20 million pounds (S$37 million), required staff from Singapore and the U.K. to work around the clock, and that their exchanges were disclosed at the time to U.K. officials.
Dyson's Singapore homes: One sold
In 2019, Dyson had acquired a three-storey penthouse for US$54 million (S$71.7 million) in Singapore, but sold it at a hefty loss late last year.
The penthouse was sold to a United States citizen for S$62 million.
The Dysons also bought a bungalow near the Singapore Botanic Gardens in 2019 for S$45 million, which they still own.
The firm had previously said it intends to hire more than 2,000 people in Southeast Asia over the coming years, but then confirmed in July it would cut 900 of its 14,000 jobs globally due to the pandemic.
According to Bloomberg, the company said it would “shortly” move into a new global headquarters at an old power station in Singapore this month.
Top image via Getty Images
Moving out.
Lean Jinghui |
Billionaire James Dyson has relocated from Singapore back to the United Kingdom, reversing a move he made two years ago.
Magnifying its footprint
Sponsored by SKINLAB THE MEDICAL SPA PTE LTD
SkinLab The Medical Spa wants to bring its trusted reputation as a Singaporean brand to overseas markets such as China and Malaysia.
See More
According to Bloomberg, Dyson, 73, now primarily lives in the U.K., according to filings for companies the billionaire controls, including for his family office Weybourne.
“We do not comment on private family matters and nothing has changed in respect of the company,” a Dyson spokesperson said, according to Bloomberg.
“The structure of the group and the business rationale underpinning it are unaltered.”
Criticism over the move
Dyson, who is worth US$29 billion (S$38.5 billion), faced criticism from U.K. lawmakers for switching to Singapore initially given his pro-Brexit stance.
This latest move comes after Dyson had bolstered his presence in Singapore for two years, liquidating U.K. companies and hiring staff in Singapore for his family office.
Now Dyson is facing another controversy.
BBC reported he had texted prime minister Boris Johnson in March 2020 to get assurance that Dyson staff wouldn’t face a change in their tax situation if they came to the U.K. to help make ventilators in response to Covid-19.
The billionaire wrote to the Treasury, but then reached out to Johnson, sparking concern over whether the prime minister followed procedures to disclose the messages.
Johnson was forced to defend his actions in parliament on April 20.
However, Dyson said in a statement on the same day that it was Johnson who initiated contact in 2020.
The ventilator project at the time of "national crisis" cost Dyson about 20 million pounds (S$37 million), required staff from Singapore and the U.K. to work around the clock, and that their exchanges were disclosed at the time to U.K. officials.
Dyson's Singapore homes: One sold
In 2019, Dyson had acquired a three-storey penthouse for US$54 million (S$71.7 million) in Singapore, but sold it at a hefty loss late last year.
The penthouse was sold to a United States citizen for S$62 million.
The Dysons also bought a bungalow near the Singapore Botanic Gardens in 2019 for S$45 million, which they still own.
The firm had previously said it intends to hire more than 2,000 people in Southeast Asia over the coming years, but then confirmed in July it would cut 900 of its 14,000 jobs globally due to the pandemic.
According to Bloomberg, the company said it would “shortly” move into a new global headquarters at an old power station in Singapore this month.
Top image via Getty Images
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