Dyson Plans to Jump Into the Electric Car Market

Sir James Dyson, of vacuum cleaner fame, has announced plans to enter the electric vehicle market by 2020, although details remain scarce. Ian Pollock of the BBC reports that Dyson plans to invest £2 billion—with one billion spent on development and another billion spent on production of the vehicle's battery. Pollock notes that Dyson is entering the electric car market at time when it's becoming increasingly crowded.

Within the next few years, many new models are due to come on to the market, including Jaguar's Ipace, Porsche's Mission E, Volkswagen's I.D. family and Mercedes' EQ range. Tesla also has big plans for its recently launched Model 3.

They will be joining established models such as the Nissan Leaf, the BMW i3, the Renault Zoe and the Tesla Model S.

Dyson clearly sees an opportunity here. As new designs become available, and prices come down, more consumers will be willing to try electric vehicles.

Policymakers, concerned about air pollution, want them to do just that.