Dyson scraps EV ambitions
James Dyson says the company could not figure out how to make the project 'commercially viable.'
Dyson has unexpectedly halted its electric vehicle development project after determining that the endeavor would not be financially feasible.
Company founder Sir James Dyson reportedly sent an email to employees praising the team for developing a "fantastic" electric vehicle but said the project was not "commercially viable," according to the BBC.
The company apparently failed to find a buyer for the project after deciding to call it quits.
The vehicle was apparently far along in terms of engineering, with prototypes already undergoing testing. The company pulled the plug as it faced the more onerous task of preparing for volume production, which tends to be the stage where other startups have failed to move forward.
The British technology company would have faced significant competition by the time its EV rolled off the assembly line as planned in 2021, the same year Tesla aims to ramp up Model Y production and established automakers rush to launch new all-electric models.
"This is not a product failure, or a failure of the team, for whom this news will be hard to hear and digest," Dyson wrote in the email to employees. "We have tried very hard throughout the development process, we simply can no longer see a way to make it commercially viable."
The inventor voiced optimism that the engineering work on batteries will not go to waste, benefiting the company "in a profound way" with other products.