By Paul Homewood
h/t Philip Bratby
Another one bites the dust:
An electric vehicle (EV) start-up backed by celebrities including David Beckham and Jack Whitehall has put its commercial arm into administration, blaming the Government’s decision to delay a ban on petrol car sales.
Lunaz Group, which retrofits combustion engine vehicles with electric powertrains, on Monday confirmed it was shutting down Lunaz Applied Technologies as part of a wider overhaul.
The troubled division was focused on “upcycling” bin lorries and had secured a deal with refuse collector Biffa to electrify its fleet.
The Silverstone-based company was founded in 2018 by entrepreneur David Lorenz and former Formula 1 technical director Jon Hilton, with the business securing investment from Mr Beckham in 2021.
The former England footballer reportedly took a 10pc stake, with other investors including Mr Whitehall – who fronted promotional videos for Lunaz – and the Reuben brothers and the Barclay family, who are the current owners of The Telegraph.
Quite why the decision on electric cars has affected electric lorry sales is a mystery!
via NOT A LOT OF PEOPLE KNOW THAT
March 20, 2024 at 03:27AM
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