James Dyson to build electric car by 2020

James Dyson, the billionaire inventor of the bagless vacuum cleaner, said his company was building a "radical" all-electric car for launch in 2020, with a commitment to spend 2 billion pounds ($2.7 billion) on solid-state battery technology and vehicle design.

Dyson said a 400-strong team of engineers had already spent two and a half years working on the secret project in Malmesbury, Wiltshire, developing the batteries that will power the in-house designed electric motor for the car.

He said on Tuesday he had not yet decided where the vehicle would be manufactured, although he had ruled out working with any existing auto companies.