A MASSIVE investment into research and development of new technology has been announced by James Dyson totalling £1.5billion.

The Malmesbury based company has promised £1billion investment in new technology and research, £250million for an expansion of their headquarters, £200million on expanding manufacturing in South East Asia and £50million for British universities over the next four years.

Founder and chairman of the business Sir James Dyson: “Our growth is fuelled by technology and we are thinking long-term. 

“Ninety per cent of our technology is sold abroad, we’re quickly growing across Asia, and it’s phenomenal to think that we are now number one in the home of technology – Japan.

“But we must relentlessly invent – that’s why we are investing in our research footprint here in the UK and investing in our manufacturing capabilities in South East Asia.”   

The company is developing four new ranges of technology and will launch 100 new products around the world in the next four years. 

David Cameron added: “Dyson is a great British success story and the expansion of the Malmesbury campus will create thousands of new jobs, providing a real boost to the local economy and financial security for more hardworking families.

“Investment on this scale shows confidence in our long-term economic plan to back business, create more jobs and secure a brighter future for Britain.”

The Prime Minister added: “Dyson is a company looking to the future, and its continued investment in developing technology will help to cement its leading role on the global stage.”

Today’s announcement was made to coincide with the first step of the expansion of  the Malmesbury headquarters, creating up to 3,000 new jobs and improving links with British universities.

The first new research building will house carbon neutral laboratories, planned to open in early 2016.

Dyson has also invested £200m in new facilities in South East Asia to test and manufacture new technology. 

Four additional production lines have been built at Dyson’s advanced motor manufacturing facility in Singapore which will increase motor manufacturing capacity to 11m per year.