Pro-Brexit campaigner James Dyson to move headquarters to Singapore

Dyson to move company headquarters to Singapore

Dyson to move company headquarters to Singapore

Dyson, which raked in more than £4.4 billion in turnover past year, also announced that it is moving its corporate headquarter to Singapore to cater to its growing Asian customer base. Singapore's expertise in advanced manufacturing was among the factors that made it an "ideal location" to build the Dyson auto, said the company.

FILE PHOTO: Dyson CEO Jim Rowan speaks during a product launch event in Beijing, China September 12, 2018.

"We expect to be able to go in and disrupt yet another industry using bespoke Dyson technology and innovation".

"As a result, an increasing proportion of Dyson's executive team is going to be based in Singapore; positioning them to make the right decisions for Dyson in a quick and efficient way".

Dyson plans to build its electric cars in a new factory in Singapore.

Company founder Sir James Dyson has been in favour of Brexit, but Mr Rowan confirmed that Britain's departure from the European Union would have little impact on the firm and that they had not made any contingency plans. Its headquarters is now located in Malmesbury, Wiltshire. The company is considering developing a wearable air purifier that could double as a pair of headphones, hoping to tap demand from pollution-choked cities in Asia, people with knowledge of the project said.

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"What we've seen in the last few years is an acceleration of the opportunities to grow a company from a revenue perspective in Asia", Dyson chief executive Jim Rowan said in a press conference yesterday.

The company confirmed that the majority of its product development will remain based in the south west of England.

Dyson has announced it is moving its headquarters to Singapore, the latest move by the British tech giant to relocate most of its core businesses outside of the United Kingdom. Rowan said, "The move is nothing to do with Brexit or tax, it's about making sure we are future proofed". Known for vacuum cleaners and hand dryers, the firm has expanded into air purifiers and hair-care products, and embarked on a costly project to build an electric auto by 2021.

Turnover rocketed 28% to £4.4bn and profits jumped 33% to £1.1bn, with Rowan pointing to the success of products such as its Supersonic hairdryer.

In October, it said it would build its electric auto in Singapore because it said it was close to suppliers and Asian markets for the vehicle, which is due to launch in 2021.

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