Dyson heavy Investment in electric cars

James Dyson, the owner of Dyson Ltd, has revealed his company’s plan to embark a massive £2bn. The British company known for its vacuum cleaner and fan is said to channel its resources into the development of electric cars by the year 2020.

Dyson confirmed his electric car would be “radically different” than those designed by other car makers.

According to reports, the company has been working on the for the best two years secretly, which somehow ended up in a government’s public report last year.

Developed New Prototype

The BBC reports Sir Dyson’s company has not built a prototype, and the site for the production of this electric cars have not been chosen yet.

Although Sir Dyson had refused to give further details of the car, stating that the confidentiality of the specifics of the vehicle is paramount, given the fierce competition for new technology in the automobile industry. However, he did reveal that £1bn would be spent on developing the car, with another £1bn on making the battery.

Also, he said the design was “all about the technology” and warned that it would be an expensive vehicle to purchase. Therefore, it likely the car won’t be produced in mass quantity. Nevertheless, there will be some healthy competition for Tesla, one of the leading electric car, which cost within the range of £35,000 – £130,000.

The electric car will be considered a British export, though it might be produced elsewhere. Sir James Dyson also stated some of his environmental concerns and how he believes electric cars are the best means further in the automobile industry.