Economy

Dyson joins the electric motoring revolution with £2bn investment

Dyson joins the electric motoring revolution with £2bn investment”

It also secured £174 million in government funding to develop "a new battery electric vehicle", according to documents uncovered previous year. After Daimler, Mercedes' parent company, said it would invest $1 billion in its Alabama plant to start building an electric SUV in 2020, Musk responded that "that's not a lot of money for a giant like Daimler/Mercedes". I believed that electrically powered vehicles would solve the vehicle pollution problem.

"Competition for new technology in the automotive industry is fierce and we must do everything we can to keep the specifics of our vehicle confidential", explains Dyson founder Sir James Dyson.

Dyson has made a name for itself by inventing all sorts of new approaches to vacuuming your house, and it seems that the company is now looking to innovate in a whole new "clean" industry.

Dyson has confirmed it is developing its own electric auto, following years of rumour and speculation. The firm says it is "recruiting aggressively". Dyson has been interested in the filtration of diesel emissions for more than two decades. The company is understood to have already hired engineers from Aston Martin.

Dyson has hired several notable Aston Martin execs over the a year ago as well as Tesla's Ricardo Reyes.

In three years time, when Dyson releases its vehicle, the EV market will have grown significantly.

The move caused a stir, as did Dyson's hiring of Tesla communications executive Ricardo Reyes earlier this year, fuelling a resurgence in speculation around the British company's development of an electric vehicle. The team went on to develop a much more sophisticated technology.



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