LONDON, Nov 26 (Reuters) - Dyson, the inventor of the
bagless vacuum cleaner, said it would invest 2.75 billion pounds
($3.67 billion) in new technology in the next five years to
double its product portfolio, including devices that would take
it beyond the home.
Founded by Briton James Dyson in the 1990s, Dyson said a
focus would be investment in the solid state battery technology
it was developing for an electric car project that it abandoned
last year.
Robotics, motor technology, intelligent products and machine
learning would also receive investment, it said.
"Now is the time to invest in new technologies such as
energy storage, robotics and software which will drive
performance and sustainability in our products for the benefit
of Dyson's customers," said Chief Executive Roland Krueger.
"We will expand our existing product categories, as well as
enter entirely new fields for Dyson over the next five years."
The investment will be divided between the company's new
global head office complex in Singapore, its two campuses in
Wiltshire, southern England, where it employs more than 4,000
engineers and other staff, and the Philippines.
Dyson said in July that it would cut 900 jobs out of a
global workforce of 14,000 due to the impact of the pandemic on
consumer demand.
Dyson's products include hair care, hand driers and air
purifiers, as well as vacuums, which now come battery powered.
It did not disclose exactly what products it was working on.
($1 = 0.7490 pounds)
(Reporting by Paul Sandle; Editing by Susan Fenton)