First publishedon www.ITSInternational.com
British technology company Dyson has pulled out of a project to build electric vehicles (EVs), saying it is unable to make its car “commercially viable”.
Chief executive Sir James Dyson said in a statement: “We have been through a serious process to find a buyer for the project which has, unfortunately, been unsuccessful so far.”
The company, known primarily for its vacuum cleaners, says it will continue its £2.5 billion investment programme into new technology in two UK locations and in Singapore. It will also focus on manufacturing solid state batteries, vision systems, machine learning and artificial intelligence.
“In summary, our investment appetite is undiminished, and we will continue to deepen our roots in both the UK and Singapore,” Sir James concludes.
In response, Carwow.co.uk motoring expert Charles Butler said: “This shows just how tough it is to build good cars at an affordable price - the market for electric is hotting up and clearly Dyson didn’t think it was fit for the fight.”