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The Dyson brand, known for its vacuum cleaners, had plans to come up with something completely different: an electric car. The car would fit seven people and have a range of up to 1,000 kilometers.
2.8 billion euros was spent on the project that would bring Dyson's first electric car to the market. The price of the car would have to be 167,000 euros for the project to be profitable.
Dyson would not be able to compete with the car manufacturer Tesla. Dyson's car was going to be too similar to the popular Tesla Model X. The project was discontinued. This was a big disappointment for James Dyson and it cost him 560 million euros.
Dyson came up with the ambitious plan to start producing an electric car. They put 2.8 billion euros into the N526 project to make this idea a reality. In the end it turned out to be very difficult to make a profit despite competition from Tesla and the plan was discontinued.
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