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Dyson to build electric car plant in Singapore by 2020

Dyson ceo leaning on a table with blueprints of vacuums.
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.

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