© Tobias Arhelger | Dreamstime.com
Dyson Dreamstime Tobias Arhelger 163633763

Dyson Launches $3.7 Billion Plan to Double Product Range

Nov. 27, 2020
Its new investment plans will target batteries, robotics, next-generation motor technology, intelligent products, machine learning and connectivity.

British electric appliance pioneer Dyson, famed for its bagless vacuum cleaners, announced Friday that it will invest £2.75 billion (US$3.7 billion) to double its product range by 2025.

Dyson said in a statement that it will plow the cash into operations in Britain, the Philippines and Singapore under ambitious plans to also start producing goods designed for outside the home.

The news comes after Dyson abandoned plans last year to produce electric cars after concluding that the project was commercially unviable.

The company said Friday that its new investment plans would target batteries, robotics, next-generation motor technology, intelligent products, machine learning and connectivity.

"We continue the expansion of our operations in Singapore, UK and South East Asia, as a vital step of our future development," Dyson CEO Roland Krueger said.

"Now is the time to invest in new technologies such as energy storage, robotics and software which will drive performance and sustainability in our products for the benefit of Dyson's customers.

"We will expand our existing product categories, as well as enter entirely new fields for Dyson over the next five years. This will start a new chapter in Dyson's development."

In reference to battery technology, the group added that it was also seeking to produce "safer, cleaner, longer-lasting and more efficient energy storage" than the batteries currently in use.

The company was founded by entrepreneur James Dyson, who in May headed The Sunday Times ranking of richest Britons with a fortune of £16.2 billion.

The group switched headquarters to Singapore last year in a move that prompted fury in Britain that the billionaire tycoon -- a vocal Brexit backer -- was not investing more in British manufacturing.

Dyson has not been immune to the fallout from the global coronavirus crisis.

The firm revealed in July that it was cutting 15% of its UK workforce and eliminating 900 jobs globally because of the Covid-19 outbreak, as lockdowns changed consumer behavior.

Copyright Agence France-Presse, 2020.

Popular Sponsored Recommendations

Goodridge Boosts Productivity & Saves Costs by Moving to the Cloud!

Dec. 4, 2023
With Infor's cloud solutions, Goodridge has been able to greatly increase overall productivity, cost savings, data visibility, and automation. This case study discusses the many...

How to Build Zero-Cost On-Site Solar and Storage Projects

Nov. 25, 2023
The Inflation Reduction Act offers tax credits, incentives, and financing that enable no-cost projects. In Enel’s eBook, discover the critical role that incentives play in your...

Discrete and Process Manufacturing 2024 Trends and Outlook for North America

Oct. 29, 2023
Manufacturers are reaping the benefits of automation and cloud-based solutions. Discover what is driving today's industry trends and how they can shape your growth priorities ...

Lean Manufacturing in the Age of the Industrial Internet

Oct. 24, 2023
Read how advanced MES capabilities can help you improve your labor utilization, reduce WIP, and optimize your production. Download the white paper today.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!