The billionaire producer Sir James Dyson has scrapped proposals to build an electric car after agreeing the project was not commercially achievable.
Dyson, who is one of the greatly prominent business pictures to back Brexit, substantiated in 2017 that he scheduled to invest £2.5bn in technologies comprising a battery-powered vehicle, which was because of roll-off production lines in 2021.
But in an email to faculty on Thursday, he said that through his automotive team had assembled a “fantastic car” the project had eventually been ineffective.
“[…] Though we have strived very hard through the development process, we clearly can no longer see a way to earn it commercially achievable,” he said.
The entrepreneur had notified the staff that he had strived to sell the division, which assigns 523 people, but that no consumer had been incoming.
In an announcement, the company said that it wished to find employment elsewhere in the firm for most of the staff who were laboring on the project, comprising 498 in the UK.
“This is not a commodity failure, or a failure of the committee, for whom this announcement will be hard to listen to and digest,” Dyson said. “Their accomplishments have been enormous – given the enormity and complexity of the program.”
“For those who can’t, or do not wish to, find other roles, we will benefit them fairly and with the admiration deserved.”
He declared plans last year to donate £200m in a testing capability on a former next world war airfield at Hullavington, near the firm’s facility at Malmesbury, Wiltshire.
But Dyson faced objection for deciding to create a factory to produce the “radically different” automobile in Singapore, after moving the firm’s headquarters there.
“From day one we have seized the risks and dared to question the status quo with modern products and technologies,” he told on Thursday.