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!
Click this link for the original source of this article.
Author: Paul Homewood
This content is courtesy of, and owned and copyrighted by, https://notalotofpeopleknowthat.wordpress.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.