British technology company Dyson has confirmed its plans to build its new electric car in Singapore. Reports suggest that the company is set to kick-start its production by the end of this year and roll out the first model out of the production lines by 2021.
Dyson justified building the plant in Singapore with the availability of engineering talent in the country, regional supply chains and proximity to some of the key markets around the world.
This might be notified that Dyson is overlooking the cost-factor evident from the fact that Singapore is one of the most expensive countries to conduct business with space for manufacturing at a premium in the city-state.
The company had earlier announced a commitment of 2 billion pounds towards the project that included 200 million pounds to be spent in the UK for research, development and test track facility.
Being a UK based company it could be disappointing that the car manufacturing won’t be coming to the home turf. However, none of Dyson’s products is manufactured in the UK, so this decision might not be a deviation from its pattern.
Dyson has been tight-lipped about any specifications of the upcoming EV. However, it recently wrote off a 46 million pound investment in American solid state battery development company Sakti3 which it had bought in 2018 for 58 million pounds.