David Beckham Invests in UK EV Company

David Beckham, the uber-famous and ultra-wealthy former football player has invested in Lunaz, the UK-based technology company that upcycles and converts motor vehicles to its proprietary electric powertrain.

While the company has made its name doing such work on classic cars, its ambitions go considerably further than that and Beckham’s investment – which is substantial and sees him take a 10 per cent stake in the company – is part of a capital-raising effort that will see

Lunaz move to offer upcycling and electrification of industrial vehicles on a mass scale. The company says it will begin with industrial Heavy Goods Vehicles (HGV) vehicles including refuse trucks, of which, it says, 80 million currently exist in the UK, EU and USA.

Lunaz says it remanufacturing and electrification process will extend the life of up to 70 per cent of the existing weight and embedded carbon within a vehicle. The company says it also saves fleet operators significant costs compared with replacing existing vehicles with new, claiming that a municipal authority could save more than 43 per cent in the Total Cost of Ownership of an upcycled and electrified refuse truck versus replacing their existing fleet with new equivalent electric vehicles.

Source: Motor Trader e-Magazine (July 2021) 

16 July 2021

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