Does Dyson’s exit mean electric vehicles are fizzling out?
‘The truth is, barriers to entry in vehicles remain high. Making cars is hard. The move to EVs will be expensive’
Singapore/New York — Dyson’s sudden decision to scrap its $2.5bn electric-vehicle (EV) ambitions is the latest reality check creeping into the once soaring EV industry.
The famed maker of vacuum cleaners and hair dryers could not find a way of making the project commercially viable, billionaire James Dyson said in a letter to staff on Thursday. The announcement came about two years after the company first disclosed its plans to jump into car manufacturing...