DYSON TO MOVE HEADQUARTERS OUT OF THE UK
Vacuum cleaner and electricals manufacturer Dyson have revealed plans to move its headquarters to Asia with more of its executive team to be based in Singapore, where it also intends to build its electric vehicles.
The company also revealed plans to invest £200m in the Hullavington Technology Campus in the UK, as part of Dyson Automotive
Jim Rowan, chief executive, said: “In 2018 Dyson made its largest investment in the UK while driving its technology investments around the world, particularly in Singapore, responding to soaring demand tor Dyson products across Asia.
“Globally, enthusiastic owners are demanding high-performance products, so we are deepening our operations and technology investments to meet their needs.
“Unusually for a business like ours, around half of our people are engineers and scientists, in 2019 they will continue to develop the core technologies which will enable future products.
“Alongside this, our automotive business is rapidly progressing, and Dyson is investing in the technologies that will define our future.”
The news comes as the company reveals profits of greater than £1bn for the first time, up 33 per cent to £1.1bn for 2018. Turnover also grew 28 per cent to £4.4bns.
Dyson, which is currently headquartered in Wiltshire, is to double the size of its Singapore Technology Centre, as well as putting its Malaysian design centre into its fifth phase of development.