(Reuters) — James Dyson, the inventor of the bagless vacuum cleaner, has canceled his ambitious plan to build an electric car because the project was not commercially viable.
Dyson said his engineers had built a “fantastic car” and that the project was not being closed due to any failures in research and development.
“However, though we have tried very hard throughout the development process, we simply can no longer see a way to make it commercially viable,” he told staff on Thursday.
The company had tried to find a buyer for the project but had not succeeded, he said.
Dyson announced two years ago that his engineers had been working a on a secret automotive project, building on its expertise in batteries and electric motors to develop a vehicle.
The company bet that its battery know-how would give it an edge in electric vehicles, but the closure of the project…