British technology firm Dyson has announced plans to open an electric car plant in Singapore, with a prospective launch date of 2021
Best known for its vacuum cleaners, hand dryers and bladeless fans, the company is planning to take on American tech giants Apple, Alphabet – parent company of Google – and Elon Musk’s Tesla, already an established name in the electric car business.
The company chose the Southeast Asian city-state over the US and UK due to its existing presence in Singapore, and better access to talent and markets.
In a company memo, Dyson chief executive Jim Rowan said, “Our existing footprint and team in Singapore, combined with the nation’s significant advanced manufacturing expertise, made it a frontrunner.”
Rowan said the decision was “complex, based on supply chains, access to markets, and the availability of the expertise that will help us achieve our ambitions”
Singapore is one of the most expensive places to do business in, but Dyson believe that the above factors will offset the cost of manufacturing.
Dyson, founded by by prominent Brexit supporter Sir James Dyson, denied that Britain leaving the EU influenced the decision to not open the plant in the UK.
Though the company does not currently manufacture any of its goods in Britain, it employs 4,800 staff in the UK, tripling the company’s workforce here over the last five years.