James Dyson Enters The Electric Car Market

James Dyson has never been known for being backward at coming forward! Ever since his revolutionary bagless vacuum cleaner took the world by storm in the nineties, he has been recognised as being at the forefront of invention.

The vacuum cleaner – with its slogan “say goodbye to the bag” – caught the imagination of the  buying public, and Dyson is now the third largest selling brand in the global vacuum cleaner market.

But Dyson is about more than just vacuum cleaners. The brand has acquired a reputation for leading edge products – often with a price tag to match! For example the much-coveted Dyson hairdryer claims to use specialist technology for more precise drying with minimum noise due to acoustic silencers.

But apparently Dyson’s ambitions lie above and beyond just household domestic products, good though they are. The brand is now being linked with a wide range of emerging technology such as battery storage, robotics, artificial intelligence and cars. Last autumn, James Dyson himself said to The Financial Times:

“In 15 years’ time what you will see from Dyson will be something very unusual . . . and across quite a broad range of technologies. . . . We are a technology company and we’re passionate about developing technologies that are going to be very important in the future.”

As we explained in our recent article Petrol vs Electric Cars, sales of electric cars are on the increase in the UK. IThe government also announced in July that by 2040, all sales of new petrol and diesel cars will cease in the UK. So it should be no surprise that more manufacturers are planning to enter the electric car market.

However, James Dyson insists that an electric car has been on his agenda for some time:  “We are not a Johnny-come-lately onto the scene of electric cars. It has been my ambition since 1998 when I was rejected by the industry, which has happily gone on making polluting diesel engines, and governments have gone on allowing it.”

Dyson are now reported to be working towards a 2020 launch of their electric car. In fact this has been happening for some time: 400 Dyson employees are already involved and another 300 are currently being recruited.

So far the plans have been shrouded in secrecy, but  James Dyson has recently confirmed that it is happening. He has had to come clean now due to the increasing difficulty of still keeping things secret whilst needing more people – such as employees, subcontractors and government – to know.

The manufacturing location of the car has not yet been decided. It will depend on where Dyson decide to make the battery. Dyson are spending around £2B to develop solid-state battery technology to be used in their electric cars ,rather than the lithium-ion technology used in existing electric vehicles. They claim that solid state batteries will be safer, will not overheat, will be quicker to charge and potentially more powerful.

It has also not yet been decided who will make the car; although Dyson do not plan to  work with any of the big car companies, preferring to go it alone.

So what does this car look like? At the moment it does not have a design nor a chassis. James Dyson claims that  it will not be like anything else already on the market: “There’s no point in doing one that looks like everyone else’s.” All we know so far is that it will not be a sports car and it will not be “a very cheap” car.

Dyson see their electric car as an opportunity to bring all its technologies together into a single product. What that product will look like remains to be seen – and at Logbook Loans we await further information with interest!

Meanwhile if you need any financial advice, perhaps related to buying a new car or using your existing vehicle for a logbook loan, do get in touch. We offer online loans or you can call us on 0330 400 4137.