Sir James Dyson announces £1.5bn investment drive
Industrial designer Sir James Dyson has announced a £1.5bn investment programme to back the launch of 100 new products over the next four years.
The lion’s share of this cash, around £1bn, will be spent on research and development , with a further £250m being splashed out on technology campus in Wiltshire.
Of the remainder £200m will be used to power expansion in Asia and £50m will finance research programmes with British universities.
Dyson said: “Our growth is fuelled by technology and we are thinking long-term. About 90 per cent of our technology is sold abroad, we’re quickly growing across Asia, and it’s phenomenal to think we are now number one in the home of technology – Japan. It is like selling coal to Newcastle.
“But we must relentlessly invent – that’s why we are investing in our research footprint here in the UK and investing in our manufacturing capabilities in South-East Asia.”