Dyson Plans to Build Three EVs to Shake Up Automotive Industry
【Summary】Well-known vacuum cleaner manufacturer Dyson has unveiled plans to create three electric vehicles with a budget of $2.8 billion.
The push to electric vehicles has allowed companies that don't have a history of making automobiles to enter the segment. Dyson is a well-known manufacturer of vacuum cleaners, and while the company has recently spread to different industries, like hand and hair dyers, the brand's latest plan is its most ambitious.
Dyson To Enter Automotive Segment With Three EVs
According to the Financial Times, Dyson is looking to build three electric vehicles to the tune of $2.8 billion. As the outlet reports, the British company believes that its engineering skills, technology, and ingenuity will help it break into the automotive industry.
The Financial Times reportedly interviewed 20 people and gained insight into Dyson's plans. The brand's push into automobiles will rely heavily on its solid state battery technology. Oddly enough, the tech won't be on its first model.
The first electric vehicle from Dyson "will be used to establish a route to market, a supply chain and a potential customers base," says the Financial Times. "Because of this, the vehicle will have a relatively low production run – in the single-digit thousands, three people said." The second and third vehicles will be made in larger volumes.
In addition to having Dyson's solid state – the first vehicle is rumored to come with lithium ion batteries – battery technology, the electric vehicles will also use lightweight materials. While the Financial Times claims that the majority of people believe that plastics could be used in the machines, we believe that carbon fiber is a more likely choice.
New Tech, Lightweight Materials Are Key
Regardless of what kind of materials Dyson plans to use, making the vehicles as light as possible is key for the brand as it attempts to keep weight down. The lightweight design will also help the company create inventive designs, aiding the vehicles in achieving good fuel economy and standing out of the quickly-expanding segment.
The company plans to have a car on the road by 2020 or 2021.
One of the items that could hold Dyson back from reaching its goal is the development and inclusion of solid-state batteries. While the new technology is believed to be the future of EVs, few automakers have released timelines for when they believe the tech could make its way to mainstream cars.
If Dyson reaches its goals, it could become the first company on the road to have an EV that's equipped with the technology. But it's an ambitious goal. Ditching solid-state batteries and going with lithium-ion components for all of its vehicles would give it a better chance of reaching its objective.
"They want to control the variables," said Philippe Houchois an automotive analyst at Jefferies investment bank. "What they don't want to be is a Tesla that over-promises and then delivers two to three years late."
Of Dyson's $2.8 billion budget, the brand will invest approximately $1.4 billion into developing batteries and an additional $1.4 billion into the car venture.
via: Financial Times
Vineeth Joel Patel
Joel Patel has been covering all aspects of the automotive industry for four years as an editor and freelance writer for various websites. When it comes to cars, he enjoys covering the merger between technology and cars. In his spare time, Joel likes to watch baseball, work on his car, and try new foods
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