On October 28th, US time, British company Dyson, known for its high-end hair rollers and vacuum cleaners, announced that it will establish an electric vehicle factory in Singapore, hoping to emerge in the fast-growing Asian automotive industry. According to the data, the private company last year Turnover increased by 40% to 3.5 billion pounds, and 73% of growth came from Asia.
The home appliance company, which was established in London in 1991, wants to compete for the future electric vehicle market. It is an open secret. At this week's shareholders meeting, the company passed a resolution to establish a factory specializing in the manufacture of electric vehicles in Singapore. James Dyson said last year: 'Where is the battery produced, where should the electric car be produced? Asia is a huge market, and we need to be closer to the market. And compared to the UK or Europe, Asia The reaction rate is the fastest. '
According to the Wall Street Journal report, there are currently 1,100 Dyson employees and three production bases in Singapore. The company will invest $2.6 billion in the future, including testing and research and development costs in the UK. Dyson is currently manufacturing electric Important components required for the car, such as high-speed motors and batteries, the Singapore team has already produced 50 million high-speed digital motors.
According to Dyson's previous home appliances, Dyson is still very much looking forward to the design of electric vehicles. For a long time, the vacuum cleaner is its only product, and then gradually has a richer production line. Jake Dyson, son of James Dyson, believes that Dyson is not only satisfied with being a home appliance company, it is also expanding into different fields, he said, 'four, five years ago, we are still considered It's just a vacuum cleaner company, but our research in motor technology and airflow gives us the ability to expand to other categories. As we build our own capacity barriers and experience, we can become more diverse.'
Dyson’s decision to establish an electric car factory in Singapore is also a bit of a surprise. It has been nearly 40 years since Ford closed its Singapore car factory and pulled out its Southeast Asian car production business. Deutsche Bank’s research shows that compared with other cities around the world, Singapore's post-tax average wages are among the highest in the world, the land available for industrial use is scarce and expensive, and it ranks high in the general cost of living index. Shantanu Majumdar, regional director of consulting firm JD Power For Dyson to build a factory in Singapore: 'This is a bit surprising, because its cost base is high, and no other car manufacturers are here.'
According to Dyson CEO Jim Rowan’s internal staff letter, the decision was made because the local supply chain, market access and workforce expertise offset the risk of cost factors. According to Reuters, in addition to high levels Engineers and employees, the Singapore government can also provide some generous incentives for technology companies. Some companies in Singapore can enjoy tax breaks of more than five years, and 30% of project costs to improve business efficiency. It is not clear that Dyson is involved in this incentive plan.
In addition to local policies, Dyson's construction of the factory in Singapore is also likely to target the international market dominated by China. According to data from consulting firm LMC Automotive show, in Pan-Southeast Asia, sales of electric vehicles are expected only this year. 142 vehicles. In contrast, China’s electric vehicle sales this year are nearly 700,000 units, more than double the United States and Europe. With the expansion of the Dyson cordless vacuum cleaner and hair dryer in the Chinese market, Dyson’s brand awareness is also increasing. According to the data, the private company's turnover last year increased by 40%, reaching 3.5 billion pounds, profit growth of 27%, reaching 801 million pounds, 73% of growth from Asia.
At present, Dyson has not announced any design about electric vehicles, but according to James Dyson himself, this electric car will be very different from the existing electric cars on the market, and the price will not be 'very cheap. In view of Dyson's vacuum cleaners, electric fans, and hair dryers, the three main products are positioned in the high-end market. Market participants expect that Daisen electric vehicles will maintain a high-end image and differentiate from Tesla's positioning in the electric vehicle market. .