Connect with us

Hi, what are you looking for?

World News

David Beckham buys 10% stake in vehicle electrification company

David Beckham has purchased a 10% stake in Lunaz Design, a British-based company that converts conventionally powered vehicles to electric.

The company, founded in 2018 by David Lorenz and F1 World Championship winning technical director Jon Hilton, converts classic into electric, with a portfolio consisting of Rolls-Royce, Jaguar, Bentley and the world’s first electric Range Rover.

Commenting on 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. David Lorenz and his team of world-class engineers are building something very special and I very much look forward to being part of their growth.”

Beckham has been joined by another group of investors, including the Reuben Brothers, the Barclay Family and Los Angeles based developer and tech entrepreneur Alex Dallal.

Silverstone-based Lunaz has also revealed plans to upcycle and convert a series of HGVs and industrial vehicles to electric on a mass global scale.

The company’s industrial vehicle offering will initially focus on heavy industrial vehicle classes 6 and 8, which includes HGVs, refuse trucks, fire engines and commercial vehicles like airport scissor lifts.

Lunaz said the move responds to the “pressing and legislated global requirement to transition fleets of all types to clean-air powertrains, in particular the planned ban on the sale of new Internal Combustion Engine (ICE) vehicles from 2030.”

It adds that it will be significantly cheaper and ecologically more sustainable for fleet operators in the commercial and public sectors to convert HGVs and other lorries to electric than to scrap them and replace them with new electric vehicles.

In addition, Lunaz has also moved into an expanded manufacturing facility adjacent to its current site within the Silverstone Technology Cluster, in order meet its ambitions and following sustained demand for converted classic cars. By the end of 2021, Lunaz Group says it will double the number of jobs for engineers and manufacturing technicians. It also projects the creation of 500 highly skilled jobs by 2024.

Read more:
David Beckham buys 10% stake in vehicle electrification company

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Stock Markets25 minutes ago (Jul 16, 2021 05:46PM ET) (C) Reuters. FILE PHOTO: Johnson & Johnson’s Neutrogena Cool Dry Sport sunscreen, which is part...


Builders, creators and developers, this one’s for you! TechCrunch has always been about discovering fresh solutions and shining the light on exciting, new products...


(C) Reuters. FILE PHOTO: Indian billionaire Gautam Adani speaks during an interview with Reuters at his office in the western Indian city of Ahmedabad...

Disclaimer: it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Wise Gazette. All Rights Reserved