LONDON - Britain's James Dyson has cancelled his ambitious project to build an electric car, the centrepiece of a 2.5 billion pound (46.5bn) investment in technology, saying he could not see a way to make it 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 said in an email to staff.
The company had tried to find a buyer for the project but had not succeeded, he said.
Dyson, billionaire inventor of the bagless vacuum cleaner, announced the project two years ago, building on the company's expertise in batteries and electric motors to developing a vehicle.