Economy & Business

Dyson to spend $3.67bn on new technologies

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2020/12/01 18:55

Today's Vocabulary

1. scrapped (v)
to not continue with a system or plan

2. viable (adj)
able to work as intended or able to succeed

3. invest (v)
to put money, effort, time, etc. into something to make a profit or get an advantage

4. sustainability (n)
the quality of being able to continue over a period of time

5. expand (v)
to increase in size, number, or importance, or to make something increase in this way

6. categories (n)
(in a system for dividing things according to appearance, quality, etc.) a type, or a group of things having some features that are the same

7. chapter (n)
a period that is part of a larger amount of time during which something happens

Dyson to spend $3.67bn on new technologies

Dyson says it will invest an additional $3.67bn (£2.75bn) into new technologies and products over the next five years. 

The investment will allow the company to double the number of products it sells, and expand into new areas. The investments will be focused in Singapore, the UK, and the Philippines, and will focus on emerging technologies.

Dyson is best known for vacuum cleaners, air purifiers and hair dryers. But the new investment will pay for more engineers and scientists in fields such as software, machine learning and robotics.

“Now is the time to invest in new technologies such as energy storage, robotics and software which will drive performance and sustainability in our products for the benefit of Dyson’s customers,” Dyson’s chief executive Ronald Krueger said.

“We will expand our existing product categories, as well as enter entirely new fields for Dyson over the next five years. This will start a new chapter in Dyson’s development.”

The company said it would invest further into research in the fields of robotics, next generation motor technology, intelligent products, machine learning and connectivity.

Another key focus will be the commercialisation of Dyson’s solid state battery technology, which is under development in the US, UK, Japan and Singapore.

The company says its technology will be safer, cleaner and longer-lasting than existing alternatives.

Dyson had plans to manufacture an electric car in the city state, but scrapped the idea after deciding the car wasn’t commercially viable.

Resource: https://www.bbc.com/news/business-55096998

Discussion
  1. Talk about how technology has changed in your lifetime.
  2. Do you think that there will be more or less new innovation in the future?
  3. Is there a piece of technology that you really want that doesn’t exist? (i.e. flying cars, teleportation, etc.)

“Technology is a useful servant but a dangerous master.”

Christian Lous Lange

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