Dyson said plans to invest GBP2.75bn in battery technology, robotics, intelligent products, machine learning, connectivity and material science.
The privately owned company, which is owned by Britain’s richest person, James Dyson, will focus investment on sites in Singapore, the UK and the Philippines, hiring engineers and scientists after it cut 900 jobs in July as part of a cost-cutting exercise.
Dyson said one of its main areas of focus is bringing its proprietary solid state battery technology to market, which it claims will offer “safer, cleaner, longer-lasting and more efficient energy storage”.
“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,” said chief executive Roland Krueger.
“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.”
In the UK, the company said it was concentrating more investment on robotics research and artificial intelligence (AI) at its restored World War Two Hullavington airfield site ‘campus’.
New investments at Hullavington and Malmesbury, which employ over 4,000 people, will fund research in fields such as products for sustainable healthy indoor environments and wellbeing.
Dyson opened over 100 retail shops in 2019 and a further 30 in 2020 and the plan is to continue expanding its retail footprint.
Founder James Dyson topped the Sunday Times Rich List for the first time earlier this year, with his wealth increasing to an estimated GBP16.2bn.