In an email to Dyson employees obtained by the BBC, founder Sir James Dyson said his company has tried to find a buyer for the project without success. In scrapping the division, Dyson is shutting down its EV facilities in the UK and Singapore.

We are sad to announce a proposal to end our automotive project. The Dyson automotive team has developed a fantastic electric car, but unfortunately it is not commercially viable. Read more here. — Dyson (@Dyson) October 10, 2019

Dyson announced the project in 2017 and around a year ago, it unveiled plans for an EV factory in Singapore. It was supposed to have been finished in 2020, with production scheduled to start the following year.

The company said it would spend £200 million ($247 million) on test tracks and research and development in the UK. Dyson has already spent most of that budget, and said it would use the site for other projects. In 2016, Dyson received a £16 million ($19.8 million) UK government grant towards R&D on the battery tech.

The first cars had already been made and were in testing. The company will try to find other roles for the project's 523 employees in its home division, which makes products including hairdryers, fans and vacuum cleaners. Engadget has contacted Dyson for comment.

It's not the first time Dyson has killed off an unprofitable project. In 2005, it stopped selling its Contrarotator laundry machine.

Here's the full email to employees: