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Brexit fan leaves: The wonderful change of James Dyson (yes, she's naive)
Sir James Dyson – who became billionaire with vacuum cleaners – came out early as a Brexit representative. It predicted a bright future for Britain after Brexit: The UK could also generate £ 18.5 billion (about 23 billion francs) a year.
A graduate engineer is considered free-riding – based on that attitude and his advocacy of free trade. His company had sales of about 4.5 billion francs last year. Import duties and EU regulations that Dyson views as being more difficult for free trade. They are therefore thrust into his side.
And then it happened: Dyson announced in January of this year, prior to the Bexitian deadline, his resettlement in Singapore. This decision caused criticism – the businessman accused, for example, of Labor Wes Streeting Heuchlerei:
The most expensive apartment
Now the British are even better: moving their personal residency to Singapore. According to Bloomberg, Singapore is considered one of the most expensive cities in the world. For Dyson and his wife, it's hardly a problem – they are 9.5 billion pounds (about 11.7 billion francs) at the twelfth of the richest British.
The pair bought the most expensive apartment in the city for a counter value of about CHF 53.5 million. The three-story penthouse on the highest floors of Guoco's financial district in Singapore has five bedrooms, a private pool and a wine cellar.
The decision ensures criticism
Once again, James Dyson is charged with hypocrisy. Since he always supported Brex and publicly expressed his opinion that this opportunity for GB, now interrupts him, so many votes on social media. The assumption is that Dyson moved his headquarters to Asia for fear of economic disadvantages as a result of Brexit.
Justification of the decision
However, his decision has nothing to do with Brexit, but it is exclusively strategic, Dyson said officially in January: the Asian market gains importance. In fact, Dyson makes only a small part (about 4%) of its sales in the UK. Moving the seat and residence is also important in order to get closer to manufacturing plants and important Asian clients.
In addition, Brexit has a small business impact on Dyson. As products are produced in Asia, the EU import tariffs remain the same – only UK customs duties could be abolished. Customs abolition would have a direct positive impact on the company's profits.
He announced the electric car Dyson
Another argument for moving to Singapore is the electric car Dyson. Production halls are currently being built in Singapore. This strategy from the inside outwards affects the nerves of time. Dyson commented: "We've been researching engines, batteries, aerodynamics, vision systems and robotics for 22 years. Now is the time to join our knowledge and experience into one big project – an electric car.
So far, only some details of the project are known. However, there are already patented electric car drawings:
Set an electric car: James Dyson
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