For the next five years, Dyson will invest an additional $3.67 billion into new technologies and products. It will allow the British technology company to double the number of products it sells, and expand into new areas.
The investments will be focused in Singapore, the UK, and the Philippines and will focus on emerging technologies.
Dyson is well known for vacuum cleaners, air purifiers, and hair dryers. However, the new investment will pay for more engineers and scientists in fields like software, machine learning, and robotics.
“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,” Dyson’s chief executive Ronald Krueger said.
“We will expand our existing product categories, as well as enter entirely new fields for Dyson over the next five years. This will start a new chapter in Dyson’s development.”
Another key focus will be the commercialization of Dyson’s solid-state battery technology, which is under development in the US, UK, Japan, and Singapore.
The company says its technology will be safer, cleaner, and longer-lasting than existing alternatives.
