British company Dyson, which recently acquired battery start-up Sakti3 for $90 million in late 2015, intends to now establish battery production on its own.
The total investment is expected to reach £1 billion ($1.44 billion).
Dyson has even secured a small grant for battery developments from the UK government:
"The government is providing a grant of up to £16m to Dyson to support research and development for battery technology at their site in Malmesbury"
There is speculations that part of the plan for Dyson is not only batteries for cordless electrical appliances, but for an electric car - which is the easiest way to gain scale on volume.
The Guardian article indicates that Dyson is really engaged in an EV project of some kind - at least some government documents revealed such an intention.
"Dyson is developing an electric car at its headquarters in Wiltshire with help from public money, according to government documents.
The company, which makes a range of products that utilise the sort of highly efficient motors needed for an electric car such as vacuum cleaners, hand dryers and bladeless fans, last year refused to rule out rumours it was building one.
But on Wednesday, the government appeared to have accidentally disclosed Dyson is working on one, along with other big companies outside of the automotive industry, such as Apple.
“The government is funding Dyson to develop a new battery electric vehicle at their headquarters in Malmesbury, Wiltshire. This will secure £174m of investment in the area, creating over 500 jobs, mostly in engineering,” said the National Infrastructure Delivery Plan, published on Wednesday."
However the document has been edited and details about the Dyson EV disappeared.
source: The Guardian