Dyson says it will invest an additional $3.67bn (£2.75bn) into new technologies and products over the next five years, according to the BBC.
It will use this investment money to fund research in robotics, next-generation motor technology, smart products, machine learning and material science.
The company will also focus on the commercialisation of its solid-state battery technology, which it claims will allow it to build cleaner, longer-lasting and more efficient batteries.
Investments will be spread across Dyson’s operations in Singapore, the UK and the Philippines. Dyson aims to double its range of products by 2025.
In the UK, the company said it was “deepening its commitment” to its Hullavington and Malmesbury campuses in Wiltshire and confirmed that it would be hiring for new roles in both. 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 told the BBC.
“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.”
In Singapore, Dyson is pushing forward with plans to open a new global head office as well as expand its research and development facilities. It also plans to build an “advanced manufacturing hub” in the city-state. A new software hub will also be built-in Alabang in the Philippines.