Dyson is perhaps the most successful technology company in the United Kingdom, but in 2019 the British stalwart is moving more of its operations to Asia. This year, the company plans to relocate its executive team to Singapore, where Dyson already is building a factory to manufacture an electric vehicle.
Along with moving its headquarters, Dyson is planning to double the size of its technology team in Singapore. The new leader of its two-year-old electric vehicle project, in which Dyson is engineering an electric battery and vehicle from scratch, will also be located there, even though the company invested $260 million in building out a testing facility at an old U.K. airbase in 2018. That facility will remain the home base for the U.K. development team, even as the company’s focus shifts to Asia. Dyson is aiming to launch its electric car by 2020.
Dyson’s shift away from the U.K. comes as Brexit approaches in March, though founder James Dyson is a longtime supporter of Britain’s departure from the EU. The company says that Brexit had nothing to do with the decision to shift its operations toward Asia and that it will continue to invest in the U.K. However, the announcement comes as other companies are also deciding to move their European headquarters elsewhere due to the economic chaos that Brexit will likely cause.