David Beckham Buys A 10 Percent Stake In EV Specialist Lunaz

Lunaz, a British brand most famous for converting classic cars with an all-electric powertrain, announced that it secured investment from David Beckham.

The former soccer player has bought a 10 percent stake in the Silverstone-based company, joining investors such as the Rueben and Barclay families. At the same time, Lunaz announced a new expansion plan that will include remanufacturing and converting industrial and commercial vehicles to “clean-air” powertrains.

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The new Lunaz Group is divided into three companies: Lunaz Design will convert classic cars, Lunaz Applied Technologies will re-engineer and upcycle specialist industrial fleet vehicles, and Lunaz Powertrain, which will provide the company’s proprietary modular electric powertrain as a turn-key product for OEMs, Tier 1 suppliers and more.

The first stage of Lunaz’s new strategy is to start converting and remanufacturing garbage trucks and other heavy vehicles. “By 2030 when internal combustion engine (ICE) bans in major markets come into effect, more than 2 billion conventionally powered vehicles will exist on the planet,” Lunaz said. “Remanufacturing, upcycling, and electrification can prevent a large proportion of these vehicles from being scrapped.”

“Our approach will save fleet operators capital while dramatically reducing waste in the global drive towards de-carbonization,” added David Lorenz, founder, and CEO of Lunaz. “There is evidence everywhere in the global economy that responsibility and commerciality are no longer mutually exclusive. This top-tier investor commitment is testament to Lunaz’s path to defining the market for remanufacturing and conversion to clean-air powertrains.”

Lunaz is known for its wide range of classic car electromods, including the Rolls Royce Phantom V, the classic Bentley Continental, the original Range Rover, and more. As part of its expansion plan, the company aims to offer 500 jobs by 2024.