Billionaire inventor James Dyson, a staunch supporter of Brexit, decided to move his company's headquarters to Singapore, a blow to the U. S. economy. K. government. Dyson Ltd.
In recent years, driven by the growing customer base in Asia, the company has risen rapidly.
Known for its vacuum cleaners and clothes dryers, the company has now expanded to air purifiers and hair dryers
By 2021, a costly electric vehicle manufacturing project had begun.
In a telephone interview with reporters, Dyson chief executive Jim Rowan said the move was not due to taxes or concerns about Britain's exit from the EU, but rather a shift in the region's importance to companies.
As the United States announced the newsK.
As uncertainty continues about Britain's exit from the EU, the government is eager to reassure businesses.
No car in Singapore
Manufacturing Factory is one of the most expensive places in the world to buy cars, but it is also the second place on Earth.
Largest container port and manufacturing center
Technology products such as aircraft engines of Rolls Royce Holdings Ltd.
Read more: Dyson became the richest British in the record profits of vacuum manufacturers. Dyson is the latest company to move its headquarters to Chinatown. S.
And the EU.
Despite the high cost, Singapore continues to attract businesses, partly because of increased global political uncertainty, said Song Chengyun, an economist at Singapore's CIMB Private Bank.
"Singapore is a peaceful ocean, discussing policies with business leaders to keep you consistent and clear," he said . ".
"If you're going to invest a lot, you 'd better make sure you have visibility in your planning.
Singapore's hard infrastructure and soft infrastructure have also made up the cost gap and made it a value --
Added suggestions for Dyson and others.
Roland Kruger, president of Infiniti Motor Co. , Ltd.
Former Nissan Motor Company
The executive will join Dyson in April to oversee the business.
Dyson's income reached 4.
4 billion ($5. 7 billion)
The year ending December
On the 31st, driven by the demand for new products, an increase of 28% year-on-year.
Over the past two years, the company's revenue has grown by 68%, with more than 50% of its profits coming from Asia.
Alibaba Group Holdings Limited
Said in November that some of its top
Dyson sells products at the annual Singles Day event.
The move to Singapore will not involve major personnel changes.
Rowan is already working in the city, and the chief financial officer and chief legal officer will move soon.
The company employs nearly 6,000 engineers and scientists across Asia and the United States. K. campus.
Read more: Dyson's move to Singapore shows Singapore's advantages in the risky worldK.
The corporate tax rate was lowered to 19% in April 2017 and 17% in 2020.
Singapore's current corporate tax rate is 17%, but there are many tax incentives, including plans to increase tax breaks for companies investing in R & D.
Dyson said on Tuesday that it will continue to increase research and development efforts, plans to double the size of Singapore's technology center and invest "hundreds of millions" in robotics ".
Dyson also made contact with the United States. K.
The government is about 0. 35 billion
Sterling's expansion into the United StatesK. testing site.
Dyson is still launching new products.
The company is considering developing a wearable air purifier that can double as a pair of headphones, hoping to tap demand from pollution
People familiar with the project say cities in Asia are choking. —