A tripling of its revenues in China last year will help fund the research into energy density, which is the technology behind making batteries last longer, reports CityAM.
Chief executive Max Conze announced the company’s plans as he revealed strong annual sales, profits up 19 per cent to £448m and a record turnover of £1.7bn.
“2015 was a year of exceptional growth across Asia and Europe, which proves that people across the world want better technology. 2016 is gearing up to be a transformational one as we launch more exciting and more intelligent proprietary technology,” Max Conze, chief executive, said.
“We have invested £100m looking at batteries in the past five years. We are now stepping up that work and will spend £1bn by 2020. Solving energy density is the greatest engineering challenge in the 21st century.”
“Batteries that give two times the energy density and storage would be great for mobility of the future,” Conze added.
The vacuum cleaner, fan and electrical device specialist expects to spend £5bn per week on research and development in 2016 and an extra £100m over the next three years on external technology investments.
Its investment into longer-life battery innovations comes as its sales of battery-enabled, hand-held vacuum cleaners grew 66 per cent globally in 2015 and Dyson now holds a quarter of the global market, underpinned by “continuing investment in core digital motor and battery technology”.
