After Dyson Ltd.’s plans from 2018 to manufacture its first electric car in Singapore, the country is now in talks with other producers of green vehicles to set up shop on the island.
Singapore is hurling its connectivity to international markets through free-trade agreements, its high-skilled workforce and strict protection of intellectual property, which is critical for the industry, as per a government agency set up to attract investments to the nation.
“Hopefully they won’t be the only one we land,” Chng Kai Fong, managing director of the Singapore Economic Development Board, stated in an interview, discussing Dyson’s plans. “We’re in active negotiations or discussions with a couple of others. The whole idea is to build clusters.”
Bringing in other electric car automakers will create a scale for the sector in Singapore, which is also stimulating the development of autonomous vehicles in the nation. The usage of high-tech robotics and automation, along with supply chain management and connectivity, could assist dispel concerns on the high labor costs in the country.
“It’s much more of a capital game than a labor game,” Chng stated in San Francisco, where his agency hosted two technology-related conferences consisting of the Bridge Forum. “That plays to our strength.”
Dyson, the closely held manufacturer of hand dryers and vacuum cleaners, stated in October it prepares to finish its factory by 2020 with the aim of presenting its first model by 2021 as part of a 2 billion pound ($2.6 billion) effort to boost into automobiles.