Dyson to spend £2.75bn on expanding product portfolio by 2025
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Dyson has said it will invest £2.75bn in new technology over the next five years, in order to double its range of products.
The tech firm said it wanted to expand its portfolio beyond the home. It will use the money to hire new engineers and scientists, as well as fund research into areas including robotics, new motor technology, machine learning, and software.
Dyson has already toyed with releasing products beyond its usual remit, including developing an electric car, a project that it ultimately cancelled in 2019 after concluding it would not be commercially viable.
The new, multi-billion pound investment will be divided between the company’s global head office complex in Singapore, its two campuses in Wiltshire, and the Philippines.
At the firm’s UK Innovation Campus sites in Malmesbury and Hullavington - which employ 4,000 engineers and other staff - the new areas of study will focus on developing advanced robotics and artificial intelligence.
While Dyson used to be headquartered in the UK, it shifted this office to Singapore last year in a move that it said had “nothing to do with Brexit”.
Dyson chief executive Roland Krueger said it was the beginning of a “new chapter” in the company’s development.
“We continue the expansion of our operations in Singapore, UK and South East Asia, as a vital step of our future development,” he 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 July Dyson cut 900 jobs, mostly based in the UK, as it adapted to the impact of the coronavirus pandemic.
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