Dyson abandons electric car project: report | Singapore Business Review

Dyson abandons electric car project: report

The firm said that it is no longer "commercially viable".

UK-based vacuum manufacturer Dyson will cease its electric car projects, laying off about 523 employees in Singapore and in the UK, according to a report by BBC

About 20 people are working under the firm’s automotive division in the nation. In an email to the affected employees, James Dyson said that they “can no longer see a way to make it commercially viable.”

He further revealed that he failed to find a buyer to take over the project.

Meanwhile, Economic Development Board (EDB) said that this move is not expected to have much of an impact in Singapore.

“As Dyson’s decision not to pursue the electric vehicle business was taken at an early stage, the disruption to its operations and workforce in Singapore will be minimal. Singapore and Dyson have enjoyed a strong partnership for more than ten years and we look forward to building on this partnership,” said Tan Kong Hwee, assistant managing director, EDB.

Bloomberg reported in September that Dyson plans to hire about 20,000 people in Singapore, Malaysia and the Philippines. The firm first announced that they would relocate their headquarters to the Lion City in October 2018.

Get Singapore Business Review in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

All of its key businesses were profitable in the first six months of the year.
Singtel, Keppel Corp, and OCBC Bank led the Straits Times Index on 29 July.
There seems to be a trend amongst workers looking to switch employers.
Total property income decreased by 4% but was offset by the decline in expenses. 
This is under the Special Situation Fund for Startups investment scheme. 
Called Project Nexus, the blueprint outlines how countries can integrate their retail payment systems onto a single cross-border network.
It plans to expand in the coming months, on the back of China’s economic recovery.
Funds will be used to modernise its portfolio.
Local financial firms are expected to remain resilient even should the economy slip into a recession again.
The Mapletree group of companies led the index on 28 July.