British industrial design engineer and founder of the Dyson company, James Dyson. Photo: Christophe Archambault/AFP/Getty Images.
British technology company Dyson is moving forward with its plan to build electric cars after its board approved plans to build a plant in Singapore by 2020, according to The Verge.
Why it matters: This is the next step from Dyson's announcement in 2017 to break into the electric car market, a $2.5 billion investment. The company has transformed markets by redesigning the engineering make-up of premium vacuums, hairstyling and household appliances and hand dryers.