Dyson to spend $3.67bn on new technologies

Dyson says it will invest an additional $3.67bn (£2.75bn) into new technologies and products over the next five years.

The investment will allow the company to double the number of products it sells, and expand into new areas.

The investments will be focused in Singapore, the UK, and the Philippines, and will focus on emerging technologies.

The company announced it would set up its headquarters in Singapore in 2019.

Dyson is best known for vacuum cleaners, air purifiers and hair dryers.

But the new investment will pay for more engineers and scientists in fields such as software, machine learning and robotics.

"Now is the time to invest in new technologies such as energy storage, robotics and software which will drive performance and sustainability in our products for the benefit of Dyson's customers," Dyson's chief executive Ronald Krueger said.

"We will expand our existing product categories, as well as enter entirely new fields for Dyson over the next five years. This will start a new chapter in Dyson's development."

The company said it would invest further into research in the fields of robotics, next generation motor technology, intelligent products, machine learning and connectivity.

Another key focus will be the commercialisation of Dyson's solid state battery technology, which is under development in the US, UK, Japan and Singapore.

The company says its technology will be safer, cleaner and longer-lasting than existing alternatives.

In the UK, the company said it would expand its robotics research and artificial intelligence programs at its Hullavington Airfield Campus in Wiltshire.

In Singapore, Dyson will expand its advanced research and development facilities, which cover a growing number of fields including machine learning and robotics.

The company will also establish a new university research programme in Singapore, and is planning for a new advanced manufacturing hub.

Dyson had plans to manufacture an electric car in the city state, but scrapped the idea after deciding the car wasn't commercially viable.

The company will also create a new dedicated software hub at Alabang, in the Philippines.