Although the company has not yet made a prototype, it has developed an electric motor and two types of battery that Dyson says are already more efficient than ones in the market today.
Dyson also revealed that 400 engineers had been working on the project since 2015 and he had already injected £1bn into the project, with a further £1.5bn earmarked for further development.
Whereas the vehicle is currently being pioneered in Wiltshire, Dyson hinted that it may be manufactured overseas. He said, “We see a very large market for this car in the far east…we want to be near where our markets are and I believe the far east has reacted [to electric] more quickly than the UK or Europe”.
Dyson cited the issues of “global air pollution” and “auto manufacturers circumventing the regulators” as the impetus behind the project, claiming that the new engine solves the problem of emissions “at source” rather than just within the exhaust pipe.
Details have not yet been confirmed, but Dyson’s car is likely to rival Tesla at the top end of the market. Tesla’s Model 3 will have a starting price of £35,000 when it hits the UK market next year, while its executive Model S will retail at £62,000 for the most basic model.