The Dyson vacuum inventor says he's spending $3 billion on electric car and battery tech
Dyson said a 400-strong team of engineers had already spent two and a half years working on the secret project in Malmesbury, Wiltshire, developing the batteries that will power the in-house designed electric motor for the car.
He said on Tuesday he had not yet decided where the vehicle would be manufactured, although he had ruled out working with any existing auto companies.
Tesla founder and CEO Elon Musk recently challenged big carmakers to spend more on electric cars. After Daimler, Mercedes' parent company, said it would invest $1 billion in its Alabama plant to start building an electric SUV in 2020, Musk responded that "that's not a lot of money for a giant like Daimler/Mercedes."
"Wish they'd do more. Off by a zero." Musk said on Twitter, Business Insider's Danielle Muoio reported.
Musk has long welcomed competition in the electric-vehicle space, saying it will help speed the growth of sustainable transportation. He open-sourced patents in 2014 as part of that aim.
(Reuters reporting by Paul Sandle.)
Get the latest Tesla stock price here.
- As Ilya Sutskever announces OpenAI exit, here’s a quick recap of his involvement in Sam Altman's firing last year
- DHFL scam, simplified: Here’s all about the Dheeraj Wadhawan case — allegedly India’s biggest banking loan fraud ever
- India-UK trade pact: Work in progress to resolve pending issues
- 5 most colourful mountains in the world
- Vivo takes the top spot in India: Top smartphone brands in Q1 2024
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market