Dyson Gets Out Of Electric Vehicle Business As Fast As It Got In It

Dyson revealed its plans to produce an electric vehicle back in May, but it has now exited the business only a few short months later. The company, which is known for its vacuums and other home devices, reportedly announced the news to its employees in an email.

The email, which was obtained by CNBC, from CEO James Dyson, said the company could “no longer see a way to make it commercially viable.

“The Dyson automotive team has developed a fantastic car: they have been ingenious in their approach while remaining faithful to our philosophies. However, though we have tried very hard throughout the development process we simply can no longer see a way to make it commercially viable.”

The EV, which was scheduled to launch in 2020, but was eventually pushed back to 2021. Dyson has since canceled its plans for a manufacturing plant for the electric vehicle in Singapore after the $2.7 billion project was scrapped after failing to find a buyer for it, now using the money to fund other product developments going forward, including battery technology, the news outlet reported.

It is unknown how the 523 workers employed on the project will be affected. But Dyson did say, it is working to find “alternative roles” within the company for as many of the employees as possible, according to the email.