11.10.2019Dyson EV scrapped
Dyson has abandoned its plans to develop and build an electric car, citing that it would not be commercially viable to bring to market.
The British technology company has developed a prototype EV which boss Sir James Dyson is very pleased with. However, the cost of putting it into production means the plans to build it have been scrapped.
Dyson said that a buyer for the project had been searched for, though ultimately unsuccessfully. As such, the reported 500 employees in the EV division of Dyson - based in Wiltshire - no longer have anything to work on.
The project to build an EV was launched in 2019, with an investment of £2 billion. Half of the funds would be channelled into development of the car, and half into battery technology.
Subsequent announcements revealed that the Dyson EV, although developed in the UK, would be built in Singapore. Plans were to put the model into production in 2021.
There have been a number of EV-based start-ups announce plans over the past five years or so, but few if any have successfully brought anything to market.
Since Tesla, only Rimac and Polestar can be credited with any real success in the European market. The former now has backing from Porsche and is developing batteries for major automotive manufacturers, while Polestar is backed by an established manufacturer in the shape off Volvo.
Add in US firm Rivian - which is expected to prove successful but does not yet sell any models - and the number of failed/failing EV ventures far outstrips those that have stayed or look set to stick. It was expected that Dyson, considering its background as an established premium technology business, would have stayed the course too, but it seems the numbers ultimately haven't added up for the firm.
A number of industry commentators are not particularly surprised, with a number reckoning that the initial of £2 billion being around a tenth that of what is required to make an impact on the EV market. Still, it is a shame that such a project could not get off the ground, both for the EV sector and the UK's ambitions to be a major player in the automotive electric vehicle market.
Dyson plans to continue its investment in battery technology, but the vehicle development will cease.