Soccer Superstar Invests in Company That Converts Vintage Cars Into EVs
Newl Investment Opportunity
A recent Market Watch news article alerts readers that the “Niche electric-vehicle company Lunaz announced on Thursday soccer star David Beckham has purchased a stake in its business.”
Lunaz is a privately owned British auto maker, that takes classic ICE vehicles and converts them into clean energy vehicles as a way to upcycle older vehicles “…with timeless aesthetics propelled by the powertrain of the future.”
Located in the UK Northhamptonshire village of Silverstone, it is in good company with the “Home of British Motor Racing”---the Silverstone Circuit.
While the company is primarily focused on Bentleys, Rolls-Royces and Jaguars, it has also done a remarkable job on a classic Range Rover as shown in this article’s lead photo.
According to the news piece, Beckham, whose investment arm already owns equity in startups connected to esports and products that help muscles recover after workouts, said in a statement: “I was drawn to the company through their work restoring some of the most beautiful classic cars through upcycling and electrification. Lunaz represents the very best of British ingenuity in both technology and design.”
High End Upcycling Applicable to Low End Vehicles
However, as can be expected restoration, upcycling, and electrification comes at a pretty heady price: A converted Range Rover costs approximately $347,000; while an electrified Rolls-Royce Phantom V can start at a little over $700,000.
And, while it may sound like a lark for the superrich, their concept has greater implications when automotive upcycling is targeted to include less expensive vehicles.
“Our approach will save fleet operators capital while dramatically reducing waste in the global drive towards de-carbonization. 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’ path to defining the market for remanufacturing and conversion to clean-air powertrains,” says David Lorenz, founder of Lunaz.
Market Watch reports that after a new round of investment funding, Lunaz is expected to expand its business with upcycling and electrifying industrial vehicles such as municipal garbage trucks, fire engines and commercial vehicles with the claim that, “…a municipal authority could save more than 43% in the total cost of owning an upcycled and electrified refuse truck versus replacing their existing fleet with new equivalent electric vehicles.”
Your Thoughts on Upcycling Vintage Cars
We would like to hear your thoughts about converting vintage cars from ICE to EV powertrains: Is it cool? A good compromise between ICE and EV ownership? Or is it sacrilege?
Coming Up Next: The real reason why Tesla cancelled its Model S Plaid Plus.
Timothy Boyer is Torque News Tesla and EV reporter based in Cincinnati. Experienced with early car restorations, he regularly restores older vehicles with engine modifications for improved performance. Follow Tim on Twitter at @TimBoyerWrites for daily Tesla and electric vehicle news.