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Tuesday, January 22, 2019

Brexit-backer James Dyson is moving his company HQ to Singapore

Dyson, which makes high-end appliances like vacuums and hair dryers and is working on an electric car, announced Tuesday that it will relocate its headquarters from the United Kingdom to Singapore to be closer to its customers and manufacturing base.
"This shift has been occurring for some time and will quicken as Dyson brings its electric vehicle to market," the company said in a statement.
The statement made no mention of Brexit. A representative for the company said the company had nothing more to share when asked whether Brexit was a factor in the decision.
But the move is likely to be seen as a major blow to Britain as it prepares to leave the European Union on March 29. Some of the biggest companies in the country, including leading global carmakers, have warned that a disorderly exit will snarl supply chains and force them to move jobs and facilities out of Britain.
Dyson said in its statement that it would continue to invest and recruit in the United Kingdom.
In August, the company said it would invest £116 million ($150 million) to build test tracks and offices for 2,000 workers at a former Royal Air Force base in England that would be used to develop the electric car.
Dyson previously announced plans to build its electric cars in Singapore.

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from CNN.com - RSS Channel https://cnn.it/2sDiuuZ

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