David Beckham, the former professional footballer turned entrepreneur, has taken a major share in an electric vehicle company.
His 10 percent stake in Silverstone-based Lunaz adds to his roster of investments, which includes the Inter Miami CF Major League Soccer team.
With other leading investors now onboard, such as the Barclay brothers, Lunaz plans to create 500 skilled jobs by 2024.
Electric classics to continue
Founded in 2018 by David Lorenz and Jon Hilton, Lunaz has risen to prominence through its EV conversions of classic cars. The company’s most high-profile works have seen the Range Rover Classic, and Rolls-Royce Phantom V, fitted with battery powertrains.
This ‘upcycling’ approach is central to the Lunaz business model. Instead of developing new EVs from scratch, the firm is creating a range of electric conversions for existing vehicles.
With a newly expanded 44,000 square foot facility, Lunaz will focus on three specific EV areas.
Electric classic car conversions will continue as part of Lunaz Design, with Lunaz Powertrains creating modular EV tech for other manufacturers.
Heavy duty battery technology
The most ambitious part of the three-pronged strategy is Lunaz Applied Technologies.
Responsible for converting industrial vehicles to electric power, this division will see fire engines, refuse trucks, and other HGVs electrified.
Lunaz hopes that its approach will see fleet companies consider upcycling existing vehicles, rather than investing in brand-new models.
It claims local authorities could save 43 percent on the total cost of ownership by converting a refuse truck to electric power.
Spend it like Beckham
Some 100 new jobs are set to be created by Lunaz in 2021. A UK base said to be perfectly positioned for major EV markets.
Co-founder, David Lorenz, commented: “Our commitment to Silverstone affirms the United Kingdom’s status as a leader in the development of clean-air automotive technologies. Firms like ours, which operate in the principles of the circular economy, show that British industry can provide potent answers to the global need to transition to less impactful industrial practices.”
Following his investment, David Beckham said: “Lunaz represents the very best of British ingenuity in both technology and design. I was drawn to the company through their work restoring some of the most beautiful classic cars through upcycling and electrification.”
The former Manchester United star added: “David Lorenz and his team of world-class engineers are building something very special and I look forward to being part of their growth.”
ALSO READ
BMW i4 EV arrives in November with £51,905 price tag
Jess Hawkins returns to the BTCC grid
New Skoda Octaiva Scout revealed – for emergency services only
