Dyson to build EVs in Singapore

Dyson, a brand famous for making vacuum cleaners, has picked Singapore as its location to build an electric vehicle factory. 

The British manufacturer will aims to finish building the factory by 2020 and has presented a goal of rolling out its first model by 2021 as part of a 2 billion-pound effort to expand into the electric vehicle market.

Dyson is among new contenders entering the race to make electric vehicles, which are gaining market share from gasoline-powered cars.

Besides Tesla, who has just secured a location for its first Gigafactory in China, Dyson will compete with global giants such as Daimler AG, Volkswagen AG and General Motors Co.

Singapore, with fewer than 6 million people, is a minor market itself but has technology talent and strong intellectual-property protections, regularly topping regional IP rankings.

Singapore also doesn’t have a single car-manufacturing plant and is one of the costliest places in the world to buy a motor vehicle.

Dyson already has a manufacturing hub in Singapore that focuses on digital motors, with the company employing about 1,100 people in the region.

The country also has a free trade agreement with China, the world’s largest market for electric cars.