DYSON’S EV WAS A BRILLIANT FAILURE
WHEN SIR JAMES Dyson’s vaunted UK car-building operation hit the buffers last October, the armchair experts told one another it was the usual kind of car company failure: an oddball idea and a team with insufficient car-building experience chasing insufficient investment. Even the £2.5 billion of his own money the entrepreneur had earmarked for the project was too little, they said. Who, in this day and age, would expect to start a whole car company on that? We now know the armchair experts were wrong. Dyson did not fail for the classic reasons. It was killed by a strange, adverse and temporary market. It died because practically every other electrified car on the market is underpriced so its manufacturer can meet tough new CO2 targets yet go on selling profitable conventional cars.…