Oct 23, 2018

Dyson plans to build electric vehicles in Singapore

Photo: Eric Piermont/AFP/Getty Images

Dyson has selected Singapore as the location for a factory to build electric vehicles, and plans to begin producing them by 2021, according to multiple reports.

Why it matters: The company's multibillion dollar foray into EVs is a sign of the growing competitiveness in the sector. EVs remain a tiny portion of worldwide vehicle sales but are growing significantly.

  • "The British maker of vacuums and hand dryers said Tuesday that it had selected the city because of its manufacturing expertise, skilled workforce and proximity to high-growth markets in Asia. Construction work will begin in December," per CNN.

Singapore appears to make sense for Dyson for other reasons, as it already has facilities there for building motors.

  • Plus, as The Verge notes, "Singapore also has pending free trade agreement with Japan and existing agreements with China, the world’s largest market for electric cars."

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Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.

Situational awareness

Photo: Win McNamee/Getty Images

Catch up on today's biggest news:

  1. Roger Stone sentenced to 40 months in prison
  2. Top NSC official reassigned to Energy Department amid "Anonymous" fallout
  3. Morgan Stanley to buy E*Trade in $13 billion deal
  4. Coronavirus slams companies' 2020 sales projections
  5. Black activist group gives its first presidential endorsement to Elizabeth Warren

Coronavirus kills 2 Diamond Princess passengers and South Korea sees first death

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship. South Korea also announced its first death Thursday.

The big picture: COVID-19 has now killed more than 2,100 people and infected over 75,000 others, mostly in mainland China, where the National Health Commission announced 114 new deaths since Wednesday.

Go deeperArrowUpdated 1 hour ago - Health