Dyson will invest in electric vehicle batteries and motors in the next five years.

SMM: on November 26th, British Innovation Technology and Dyson, the inventor of dustless bag vacuum cleaners, announced that they would invest 2.75 billion pounds ($3.67 billion) over the next five years to develop new technologies and products, such as electric car batteries and motors.

Dyson said its product portfolio would double by 2025 and move into new areas "other than home appliances". Dyson will focus on solid-state battery technology, as well as motor technology, robots, intelligent products and machine learning. Among them, solid-state battery energy storage technology was previously developed by the company for the electric vehicle project, but abandoned the electric vehicle project last year because it was not commercially feasible.

Roland Krueger, CEO of Dyson, said: "now is the time to invest in new technologies. Batteries, robots and software will improve the performance and sustainability of our products for the benefit of Dyson consumers." In the next five years, we will expand our existing product categories and enter new areas. "

The investment will be located in Dyson's new headquarters in Singapore, two universities in Wiltshire in the UK and the Philippines. The company employs more than 4000 engineers and other staff at the two universities in the UK. Krueger said the investment would "open a new chapter" for the company.

In September, Dyson said he would cut 900of the 14000 employees worldwide because of a drop in consumer demand as a result of the epidemic.