Billionaire inventor Sir James Dyson has put his 2020 troubles behind him with the announcement of a $3.6 billion war chest to develop technology that will take Dyson products outside of the home for the very first time.
The British industrial designer best-known for his distinctive and much-loved household appliances–vacuum cleaners, hand dryers, and hair straighteners–also confirmed long-standing plans to move his global head office from the U.K. to Singapore.
The most likely move for Dyson is further development of the powerful, long-life batteries, intended for its much-hyped but abandoned electric vehicle project that the billionaire was forced to shelve in October last year. Although specifics are yet to be confirmed, Dyson said in a statement today that it will “double” its portfolio of products and enter entirely new fields of innovation including robotics and machine learning by 2025.
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The announcement of a $3.6 billion “drive” for new technology products comes after a number of public setbacks for one of Britain’s best-known billionaire entrepreneurs.
While October 2019 saw the end of their dream to build a Dyson electric car, in 2020 he received a very public rejection from the U.K. government to build much-needed hospital ventilators during the height of the covid-19 pandemic in April.
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