British technology company Dyson announced late on Tuesday (January 22) that it should move its headquarters to Singapore to “reflect the growing importance of Asia” to its business.
In a press release, the privately held company known for its bladeless fans and bagless vacuum cleaners said: “A growing majority of Dyson customers and all of our manufacturing facilities at the moment are positioned in Asia. This shift has been underway for a while and can speed up as Dyson introduces its electric vehicle “on the market.”
“As a result, an increasing proportion of Dyson’s management team will be based in Singapore, enabling them to make the right decisions for Dyson quickly and effectively,” it said. Asia News Channel.
Dyson enjoys strong demand for its high-end hair dryers, air purifiers and lighting products among the many region’s growing middle class. According to Financial TimesAsia accounts for greater than half of the corporate’s £1.1bn profit, measured as earnings before interest, depreciation and amortisation, which rose by a 3rd overall in 2018.
Dyson is already present in Singapore and in October announced plans to construct a brand new electric automobile at its latest factory in the town. A Dyson electric vehicle prototype is predicted to be developed in 2020, with a product launch planned for 2021.
Dyson also announced investment plans, including expansion Singapore Technology Centre doubling its current space, in addition to the fifth phase of development of the Malaysia Design Centre.
Singapore’s Economic Development Board (EDB) said the country and Dyson have had a “strong partnership” for greater than 10 years.
“We imagine Singapore’s benefits are a great fit for Dyson’s requirements. Singapore’s proximity to markets in Asia will even allow the corporate to higher leverage growth opportunities within the region,” EDB deputy managing director Kiren Kumar said on Wednesday. Asia News Channel.
